“We own our Park Plaza buildings as well as the land under them and related parking areas,” a Dillard’s spokesperson said. “We have a long, successful history at Park Plaza, and we are looking forward to working with the new owner to make it an even better destination. We do not plan to leave Park Plaza.”
Chattanooga-based CBL Properties owned the mall until Pulaski County Judge Alice Gray granted an $8.2 million judgment in favor of Deutsche Bank Trust Co. Americas earlier this month. CBL had declared Chapter 11 bankruptcy last fall.
Deutsche Bank would have the option of selling the property in a judicial sale if the judgment awarded isn’t paid within ten days of the decree.
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