NEWPORT NEWS, Va. (WAVY) — The parent companies of the Greenbrier Mall in Chesapeake and Patrick Henry Mall in Newport News have filed for bankruptcy.

Tennessee-based CBL Properties, which owns Greenbrier Mall, announced Monday it had filed for reorganization under Chapter 11 to recapitalize the company. CBL owns more than 100 properties nationwide and has approximately $1.5 billion in unsecured debt, according to a company press release.

“After months of discussions and consideration of a number of alternatives, CBL’s management and the Board of Directors firmly believe that implementing the comprehensive restructuring as outlined in the RSA through a Chapter 11 voluntary bankruptcy filing will provide CBL with the best plan to emerge as a stronger and more stable company,” said CEO Stephen D. Lebovitz.

Patrick Henry owner Pennsylvania Real Estate Investment Trust (PREIT) is also filing for reorganization under Chapter 11. It plans to get $150 million from banks to help recapitalize.

“We are pleased to be moving forward with strengthening the Company’s balance sheet and positioning it for long-term success through our prepackaged plan. We are grateful for the significant support we have received from a substantial majority of our lenders, which we expect will enable us to complete our financial restructuring on an expedited basis,” said Joseph F. Coradino, CEO of PREIT.

The companies’ shopping centers, including Greenbrier and Patrick Henry, will continue to operate like normal in the meantime.

“Today’s announcement has no impact on our operations – our employees, tenants, vendors and the communities we serve –and we remain committed to continuing to deliver top-tier experiences and improving our portfolio, PREIT said in a release. “With the overwhelming support of our lenders, we look forward to quickly emerging from this process as a financially stronger company with the resources and support to continue creating diverse, multi-use ecosystems throughout our portfolio.”

Shopping malls have been hit hard by the pandemic, ranking as the most-avoided public places among consumers, according to a survey of 419 people by Coresight Research. Tenants have struggled to pay rent and major department stores such as J.C. Penney have filed for bankruptcy themselves.

Though malls and other traditional retailers had been struggling well before the pandemic thanks to online shopping. Some malls have opted to increase entertainment features and office spaces instead of shopping options, including MacArthur Center in Norfolk. The City of Norfolk is considering moving city offices into the three-floor, 130,000 square foot former Nordstrom space at MacArthur.