But the Pennsylvania Real Estate Investment Trust (PREIT) also said that if it can't reach an agreement with the remaining 20 percent of its lenders, it may have to file for Chapter 11 bankruptcy. "Long before the COVID-19 pandemic hit, we began taking meaningful actions to enhance the financial and operational health of the business," PREIT CEO Joseph F. Coradino said. "These steps have included proactive asset sales, anchor repositioning and redevelopment to significantly minimize our exposure to underperforming assets, as well as, diversifying our tenant base to provide mass-market offerings appealing to shoppers while simultaneously improving the Company's underlying tenant credit profile. The next phase in our evolution is continuing on the path we have charted to create diverse multi-use ecosystems at our properties marked by a healthy mix of multifamily housing, healthcare services, fulfillment centers, and other uses alongside our robust retail, dining and entertainment lineups.