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Polaris Fashion Place Announces Bankruptcy

The Washington Prime Group, the owner of Polaris Fashion Place and approximately 100 other shopping centers across the United States, have filed for bankruptcy on Sunday.The Columbus-based Company mentioned the financial and economic challenges of the Covid-19 pandemic for the Chapter 11 filing.

 A spokesperson for the Washington Prime said that the Chapter 11 path is the most operative next step to resolve the Company’s remaining indebtedness as they have appeared from the ongoing pandemic.The Washington Prime Group stated that the Covid-19 pandemic had created significant challenges for several consumer-facing companies, including the Washington Prime Group, the Polaris Fashion Place owner.

Polaris Fashion Place Announces BankruptcyThe Chapter 11 path is the most useful right now to resolve the remaining indebtedness of the Company. Throughout the process of Chapter 11, it will be business as usual at Polaris Fashion Place, where the renters, promoters or sponsors, and staff will continue to operate as normal, with the main focus on providing pleasant experiences for the guests.According to the spokesperson, it will continue to be “business as usual” at the Polaris mall, as stated by the group of owners during the process of Chapter 11.

Properties in Ohio owned by Washington Prime are- the Dayton Mall, the Great Lakes Mall in Mentor, the Indian Mound Mall in Heath, the Lima Mall and the Lima Center, the New Towne Mall in New Philadelphia, the Polaris Fashion Place, the Southern Park Mall in Youngstown and The Mall at Fairfield Commons in Beavercreek.

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