![]() RELATED: Auntie Anne's, Cinnabon opens in Oshkosh outlet mall | Streetwise RELATED: Tempo Music Studio and Art Gallery opens as a hub for the arts in Oshkosh | Streetwise Wilmington Trust took over the loan, originally issued by Starwood Mortgage Capital LLC, later that year. Those locations were financed by the same loan as the Oshkosh mall in February 2015. In addition to Oshkosh, the company has agreed to turn over operation of outlet malls to a court-appointed receiver in Fremont, Indiana and Burlington, Washington. Horizon Group reported a loss of $4 million in the first six months of the year. "A majority of our tenants have announced temporary closures or other limits on the operations of their stores and requested rent deferral or rent abatement during this pandemic or have failed to pay rent," the company stated in its report. In a second quarter financial report released in August, BFO Factory Shoppes' parent company, Horizon Group Properties Inc., stated the Oshkosh mall and its other properties have struggled during the coronavirus pandemic. RELATED: Former Gibson Auto Body in Oshkosh converting to event venue with $250,000 state grant RELATED: Dunkin' Donuts, Advance Auto Parts to open in Oshkosh | Streetwise RELATED: Justice and Children's Place close at the outlet mall | Streetwise The foreclosure comes amidst a coronavirus pandemic that caused a temporary shutdown of stores in spring and has contributed nationwide to the permanent shutdown of some stores and struggles by others to pay rent. The July 28 foreclosure action demanded immediate payment of the loan's $52 million outstanding balance. ![]() In the lawsuit, Wilmington Trust claims BFO Factory Shoppes LLC has not made a mortgage payment since March on a $54.7 million loan it used in 2015 to finance the Oshkosh mall and several other properties. Winnebago County Circuit Judge Barbara Key appointed the receiver in late August in connection to a foreclosure lawsuit brought by Wilmington Trust, National Association, a Buffalo-based financial services firm. OSHKOSH – A court has appointed a receiver to oversee the finances and operation of the struggling The Outlet Shoppes at Oshkosh.
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