Inside Streets at Southpoint (HDR)
Inside Streets at Southpoint (HDR)
© Steve W

I see from the Independent this morning that the owner of Southpoint Mall has declared bankruptcy. It says their malls will continue to operate while they reorganize. I don’t really know, but it seems to me that SouthPoint seems to be doing ok. At the very least, it’s always hard to find a parking spot there. It looks like mall performance wasn’t what did the company in, but rather that they financed their growth using short term loans and were unable to roll over the debt into new loans. So, now, they’re looking to sell malls to pay off their debts. Here’s hoping that a buyer for SouthPoint can be found soon.