"Given the impact of the COVID-19 pandemic on the retail and broader markets, the ongoing weakness of the credit markets and significant uncertainties associated with each of these matters, the Company believes that there is substantial doubt that it will continue to operate as a going concern," CBL said last month.It said the holders of at least 25% of the unsecured notes due in 2023 may now declare them to be due and payable immediately.The Chattanooga, Tennessee-based real estate company, which owns 108 properties primarily in the Southeast, has been working with advisors Moelis & Co. and Weil, Gotshal & Manges to explore alternatives, which could entail a reorganization of the company.Then, on June 16, CBL said it would not be making an $18.6 million interest payment due that week on unsecured notes due 2026.
CBL & Associates earlier skipped certain interest payments due to its creditors. CBL & Associates Properties, Inc. (NYSE:CBL) posted its earnings results on Tuesday, May, 26th. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.Several retailers, including J.C. Penney, Neiman Marcus and J.Crew, have filed for protection from creditors in bankruptcy court, but no retail landlord has done so.CBL shares, which trade under $1, are down more than 74% this year. CBL & Associates Limited Partnership operates as a real estate investment trust. CBL & Associates Properties (NYSE:CBL) Shares Gap Down to $0.19 www.americanbankingnews.com - July 21 at 4:18 PM: CBL & Associates Properties (NYSE:CBL) Trading Down 24.5% www.americanbankingnews.com - July 20 at 2:34 PM: Implied Volatility Surging for CBL & Associates Properties (CBL) Stock Options www.nasdaq.com - July 20 at 12:34 PM CBL & Associates Properties, Inc. is a real estate investment trust, which owns and operates retail properties. Mall owner CBL & Associates said Wednesday it has entered into a forbearance agreement with its lenders over a missed interest payment.. With bills … CBL & Associates Properties Inc., the owner of more than 100 shopping malls across the U.S., is preparing to file for bankruptcy, according to people with knowledge of the plans. UBS Group AG […] Our calculation of CBL Associates probability of bankruptcy is based on Altman Z-Score and Piotroski F-Score, but not limited to these measures.To be applied to a broader range of industries and markets, we use several other techniques to enhance the accuracy of predicting CBL Associates odds of financial distress. The Company owns, manages, and develops malls and shopping centers. In a disclosure with the … "There can be no assurance, however, that the Company will be able to negotiate acceptable terms or to reach any agreement with respect to its indebtedness."CBL also has said most of its tenants have requested rent relief during the pandemic, and it has put a number of tenants in default for not paying.Sign up for free newsletters and get more CNBC delivered to your inboxGet this delivered to your inbox, and more info about our products and services.CBL added that if the payment of its 2023 notes was accelerated, it could trigger a default for its unsecured notes due in 2024 and in 2026, "which could lead to the acceleration of all amounts due under those notes." We want to hear from you.Data is a real-time snapshot *Data is delayed at least 15 minutes. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.The company has been negotiating with its lenders in an effort to enter Chapter 11 with a consensual restructuring agreement in place, said the people, who asked not to be identified discussing confidential matters. The firm owned 251,816 shares of the real estate investment trust’s stock after selling 305,826 shares during the quarter. The plans aren’t final, and elements could change, the people said. CBL & Associates (NYSE:CBL) will not make an $11.8M interest payment due and payable on June 1, 2020, with respect to the operating partnership’s 5.25% senior unsecured notes due 2023.

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