PREIT Commences Process to Implement Prepackaged Plan to Strengthen the Business and Enhance Financial Flexibility
PHILADELPHIA, Nov. 1, 2020 /PRNewswire/ — PREIT (NYSE: PEI[1]), a leading operator of diverse retail and experiential destinations, today announced it has taken the next step to execute its prepackaged financial restructuring plan (the “Prepackaged Plan”) under which the Company will be recapitalized and its debt maturities extended. Consistent with the Company’s previously announced Restructuring Support Agreement (the “RSA”), PREIT...