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Gregory FCA is working the bankruptcy filing of the Pennsylvania Real Estate Investment Trust as the Philadelphia mall operator files its second Chapter 11 in the last three years.
The current pre-packaged filing will wipe $880M in debt from PREIT's books, and position it for long-term growth, said CEO Joseph Coradino.
Since the pandemic, PREIT has worked tirelessly to enhance its portfolios, improve occupancy rates and diversify its tenancy but it could not overcome inflation and high interest rates, he added.
Coradino expects a leaner restructured PREIT will emerge from Chapter 11 “as a financially stronger company with the resources and support to continue creating diverse, multi-use property experiences throughout our portfolio.”
Gregory FCA’s Heather Crowell represents PREIT.
Prosek Partners handles New York’s Tilray Brands, craft beer & cannabis operation, as it acquires BrewDog, a leading British independent beer producer in the UK, for $45M.
Brunswick Group handles Zurich Insurance as it agrees to buy UK-based Beazley specialty insurer in a deal valued at $11B.
FGS Global represents Brink’s as it agrees to acquire NCR Atleos, which relies on Collected Strategies, in a $6.6B cash & stock deal to create a leading fintech infrastructure company. (Updated)
A January article in O’Dwyer’s proposes that in 2026, the strongest financial brands will not simply tell compelling stories—they will “signal readiness.”
C Street Advisory Group is working the Chapter 11 filing of Axip Energy Services as it unloads its nearly all of its assets to deal with a heavy debt load.
