CBL struggling to make payments because of mall troubles during pandemic

CHATTANOOGA (WDEF) – Financial filings show how much mall operator CBL is struggling from the COVID-19 shutdowns.

The local company that owns both Hamilton Place and Northgate is negotiating to lower their interest payments for some relief.

Last week, CBL chose to not make an interest payment.

The filings say they couldn’t afford it because of all the rental payments they have lost from stores during the pandemic.

CBL hopes to get some of those back payments later in the year or next year.

But they did offer a dire warning that if things continue as they are, they may not be in business a year from now.

Still, Hamilton Place and Northgate operations are not changing at this point.