Stonecrest Mall in DeKalb faces debt trouble - New York News

Stonecrest Mall in DeKalb faces debt trouble

Posted: Updated:
LITHONIA, Ga. -

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 This material may not be published, broadcast, rewritten or redistributed.

  • Local NewsLocal NewsMore>>

  • 17,000 red light camera tickets dismissed

    17,000 red light camera tickets dismissed

    Friday, August 22 2014 7:39 AM EDT2014-08-22 11:39:23 GMT
    A technical glitch in a red light camera operating system means that some 17,000 motorists in New Jersey will not have to pay a fine for running red lights. Computer problems between May 28 and June 30 resulted in motorists not receiving notices of violations. New Jersey law requires that if a ticket hasn't been served within 90 days, it must be dismissed.
    A technical glitch in a red light camera operating system means that some 17,000 motorists in New Jersey will not have to pay a fine for running red lights. Computer problems between May 28 and June 30 resulted in motorists not receiving notices of violations. New Jersey law requires that if a ticket hasn't been served within 90 days, it must be dismissed.
  • Brooklyn Bridge flags back on US soil

    Brooklyn Bridge flags back on US soil

    Friday, August 22 2014 7:25 AM EDT2014-08-22 11:25:55 GMT
    Police say the two American flags swiped from the Brooklyn Bridge and replaced with faded white ones are back on U.S. soil. NYPD spokesman Sgt. Carlos Nieves said Friday that the flags are in the United States. He did not know their exact location. Two German artists claimed responsibility earlier this month for the July 22 stunt. 
    Police say the two American flags swiped from the Brooklyn Bridge and replaced with faded white ones are back on U.S. soil. NYPD spokesman Sgt. Carlos Nieves said Friday that the flags are in the United States. He did not know their exact location. Two German artists claimed responsibility earlier this month for the July 22 stunt. 
  • Garner's family meets U.S. attorney

    Staten Island stores worried about rally

    Staten Island stores worried about rally

    Friday, August 22 2014 6:34 AM EDT2014-08-22 10:34:05 GMT
    Some Staten Island business owners say they are bracing for huge crowds on Saturday during a planned march for a man killed in an apparent chokehold during his arrest by NYPD officers. The Rev. Al Sharpton said he is estimating about 3,000 to 5,000 people to rally.
    Some Staten Island business owners say they are bracing for huge crowds on Saturday during a planned march for a man killed in an apparent chokehold during his arrest by NYPD officers. The Rev. Al Sharpton said he is estimating about 3,000 to 5,000 people to rally.
Powered by WorldNow
Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | New Terms of Service What's new | Ad Choices