Washington Prime Group, the Columbus, Ohio-based owner of Polaris Fashion Place and dozens of other shopping centers, has emerged from bankruptcy with new leadership, the Columbus Dispatch reported. Lou Conforti has stepped down as the company's chief executive officer after five years in the position. Mark Yale, the company's chief financial officer and executive vice president, and Josh Lindimore, the company's head of leasing and also an executive vice president, will serve as interim co-CEOs, according to a statement issued by SVPGlobal, Washington Prime's new majority owner. “SVPGlobal recognizes the value of our brand, the potential of our assets, and, as importantly, our employees," Conforti said in the statement. Washington Prime filed for bankruptcy protection in June, after struggling for more than a year with a pandemic that crushed mall revenue and traffic. In its bankruptcy filing in Texas, Washington Prime listed assets of $4.03 billion and debts of $3.47 billion. Washington Prime followed other shopping center owners into chapter 11 during the pandemic, including CBL Properties and PREIT, which together own 130 shopping centers.
