Parent Of 2 Cheyenne Shopping Centers Files For Chapter 11 Bankruptcy

      The parent company of the Frontier Mall and Frontier Square in Cheyenne has filed for bankruptcy protection. 

       Tennessee-based CBL & Associates says the Chapter 11 filing is part of a reorganization plan to restructure its existing debt.

The company intends to continue normal operations in Cheyenne and its other 100-plus properties across the U-S. 

        CBL had announced a restructure plan in August, but Wells Fargo Bank, one of its biggest lenders, refused to release about $1.1-billion dollars in collateral.

        CBL had warned investors earlier this year that some tenants at its various locations were not making their lease payments, then saw some of its biggest renters close stores or file for bankruptcy themselves – primarily because of COVID pandemic slowdown.