Dayton Mall, Mall at Fairfield Commons gets third extension for $23.2M interest payment

The owner of the Dayton Mall and Mall at Fairfield Commons is getting a third extension to pay a $23.2 million interest payment that initially was due nearly three months ago.

Washington Prime Group, which owns both malls, released in March its earnings report for 2020, detailing $111.4 million in losses for the fourth quarter and $233.8 million for the year, leaving investors with an uncertainty if it could restructure in time to prevent Chapter 11 bankruptcy.

At that time, the company said it had reached an agreement with creditors extending until the end of March a deadline to pay a $23.2 million interest payment that was due Feb. 16.

In a SEC filing May 4, the company said its agreement on the payment has been extended to 11:59 p.m. May 12. The extension follows an April 26 SEC filing, when the company said its agreement on the payment had been extended to May 5, and an April 9 SEC filing when the company said its agreement on the payment had been extended to April 28.

The Dayton Mall is at 2700 Miamisburg Centerville Road in Miami Twp. and the Mall at Fairfield Commons is at 2727 Fairfield Commons in Beavercreek.

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Eric Schwartzberg