The Mall at Stonecrest is facing debt trouble that leaves it vulnerable to foreclosure.
Fitch Ratings has reported that a loan backed in part by the Lithonia mall is now held by a company that helps firms work out of debt.
The Atlanta Journal-Constitution reports the move will not affect mall operations. Still, Lithonia Mayor Deborah Jackson called the problems "disturbing news."
Several malls across Georgia have faced financial difficulties, especially since the Great Recession. Gwinnett Place Mall went into foreclosure last year. The loan on Southlake Mall in Morrow last year went to the same firm now holding the Stonecrest loan. Union Station Mall in south Fulton County was foreclosed in 2010.
Three other Georgia malls in Macon, Gainesville and Rome have also faced foreclosure.
Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
A federal court has struck down Fayette County's at-large method of electing members to certain county offices, saying the method was a violation of the Voting Rights Act.
A federal court has struck down Fayette County's at-large method of electing members to certain county offices, saying the method was a violation of the Voting Rights Act.
Two Clark Atlanta University students who call themselves brothers despite being from opposite sides of the world have graduated as valedictorian and salutatorian.
Two Clark Atlanta University students who call themselves brothers despite being from opposite sides of the world have graduated as valedictorian and salutatorian.
Gov. Nathan Deal says he believes in the right of atheist groups to donate literature for use in cabins and lodges in Georgia's state parks just as Bibles are allowed.
Gov. Nathan Deal says he believes in the right of atheist groups to donate literature for use in cabins and lodges in Georgia's state parks just as Bibles are allowed.
Tuesday, May 21 2013 6:44 PM EDT2013-05-21 22:44:17 GMT
A Jasper County teen was reunited with an EMT who helped save her life 13 years ago.
A Jasper County teen was reunited with an EMT who helped save her life 13 years ago. FOX 5 viewers provided information that led Alyssa Haskew to the moment she's waited more than a decade for: to say thank you to Scott Thomas.
Tuesday, May 21 2013 6:34 PM EDT2013-05-21 22:34:58 GMT
Parents are asking about the safety of the schools in the event of a tornado after the devastation suffered in Moore, Okla.
Parents are asking about the safety of the schools in the event of a tornado after the devastation suffered in Moore, Okla. School and emergency officials insist having kids sheltered in school buildings rather than being picked up is the best solution.
KTTV FOX 11 1999 S. Bundy Dr. Los Angeles CA 90025
