CBL

CBL & Associates Properties, Inc. is a real estate investment trust that owns and manages shopping malls, outlet centers, and lifestyle retail properties primarily in the southeastern and midwestern United States. The company operates enclosed malls and open-air shopping centers anchored by department stores, big-box retailers, and diverse specialty tenants. CBL filed for bankruptcy in 2020 amid declining mall traffic, department store closures, and unsustainable debt levels, emerging from Chapter 11 in 2021 with significantly reduced debt. The restructured company owns a smaller portfolio of properties and continues to face challenges from structural retail changes including e-commerce growth, department store struggles, and declining mall visitation. Headquartered in Chattanooga, Tennessee, CBL generates revenues from tenant rents and percentage lease payments. The REIT is working to reposition properties through tenant remerchandising, adding experiential uses, and property redevelopment. CBL operates in a difficult environment for traditional enclosed malls with uncertain long-term viability. The company continues to focus on asset management, occupancy, and adapting properties to evolving retail dynamics while managing a complex capital structure post-bankruptcy.