LA Mall Plaza Mexico Files Bankruptcy Ahead of Foreclosure Sale

Plaza Mexico, a shopping center in Lynwood, California, near Los Angeles, filed for bankruptcy ahead of a planned foreclosure sale, court papers show.

• Tenants of the more-than 400,000 square foot mall include Food 4 Less, Rite Aid and Chuck E. Cheese, according to court papers
  • The property was appraised at $170 million in October, according to court papers
• Plaza Mexico defaulted on $106 million of senior loans and $14 million of mezzanine debt after the pandemic kept shoppers home last year, Donald Chae, one of the real estate developers behind the mall, said in a court declaration
  • Some of ...