Nevertheless, previous government stay-at-home orders and business closures designed to slow the pandemic crushed many retailers' bottom lines, imperiling their ability to pay rent to landlords such as Washington Prime. How can I access the Prime files I get the message: No downloads available. economy is now sharply rebounding with more than 140 million Americans fully vaccinated and businesses reopening. How can I access the Prime files I get the message: No downloads available yet. Its cash flows from operations for the three months ending in March were $3.3 million, a plunge from $10 million during the same time in 2020.
The agreement contemplates a $325 million equity rights offering, according to the company.įallout from the pandemic last year forced Washington Prime to close some properties for a time and relax collection of rent from its tenants, squeezing the mall owner's finances.ĭuring the throes of the pandemic in 2020, Washington Prime's rental income plummeted about $127 million from 2019 levels due to the coronavirus outbreak.ĭuring the first three months of this year, Washington Prime's rental income was off roughly $20 million compared with the same time in 2020. The agreement provides for a deleveraging of the company's balance sheet by nearly $950 million, Washington Prime said on Sunday. The company said it has secured $100 million of so-called debtor-in-possession financing to aid operations during bankruptcy proceedings, adding it entered a restructuring support agreement with creditors led by SVPGlobal.
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