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CBL and Associates Properties(NYSE: CBL), a real estate investment trust (REIT), filed a report with the Securities and Exchange Commission on Wednesday that it was entering forbearance talks with holders of its unsecured notes due in 2023 after it missed an interest payment.
CBL operates 108 shopping centers, mostly in the Southeast, and has been reeling from the impact of the pandemic as tenants miss rent payments. It took in 27% of billed rents in April, and was expecting a similar amount for May.