Providence Place Mall place in receivership, looking to be sold
PROVIDENCE, R.I. (WLNE) — Attorneys from two law firms were granted “permanent receivership” of the Providence Place Mall Wednesday.
The attorneys from Ferrucci Russo Dorsey and Centennial outlined their plans to “revamp” the mall in court.
The partners said their goal is to boost sales and create a better experience for shoppers, while also upping security.
“Pre-Covid, I should say, there was over 1,300 hours [of security coverage], and so we’re working towards scaling back,” Attorney Jack Dorsey said.
He added that security hours had been cut by around 40% since then.
The attorneys also said that the end goal is to sell the mall, with a better look at that outcome in mid-2025.
The Providence Journal reported that the attorneys were appointed after the mall’s chief lender claimed that the management company owed $259 million in outstanding loans.
