CBL Properties announced that it successfully completed its Chapter 11 reorganization. CBL emerged with a significantly improved capital structure, greater financial flexibility and a lowered cost of capital, positioning the company with a much-improved balance sheet and primed to pursue future growth opportunities.
“This is a huge day for CBL,” said Stephen Lebovitz, CEO of CBL. “After a year of focused effort and collaboration with our major stakeholders, we emerge a renewed organization with a fresh start. The entire CBL team has shown incredible resilience, persistence and extraordinary effort in getting us to this point. Our improved cost structure, disciplined approach to capital investment and diverse portfolio of freestanding outparcels, open-air shopping centers and market-dominant malls, along with our talented team, position CBL to generate robust free cash flow and generate significant shareholder value.”
Lebovitz added, “As we emerge, we plan to
