Schuylkill Mall to be sold at auction
KAYLEE LINDENMUTH / SENTINEL FILE PHOTO - One of the signs at the entrances to the Schuylkill Mall. The mall, which filed for bankruptcy last October, is set to be sold at auction later this month.
FRACKVILLE – An attraction for shoppers in the Anthracite Coal Region since its opening in October 1980, the Schuylkill Mall is known by most residents in the region.
The mall has seen a steady decline over the past two decades, losing the majority of stores, including anchors Sears and KMart, culminating with its appearance on a Sheriff’s Sale list, and its subsequent Chapter 7 Bankruptcy filing last October.
The mall will be sold at an auction held at 10am on January 24th. The auction will be held at the office of William G. Schwab, 811 Blakeslee Boulevard Drive East, Lehighton, Carbon County. William G. Schwab is the lawyer serving as the trustee in bankruptcy, and will conduct the auction.
Under the bidding process approved by a U.S. Bankruptcy Judge, all bids must be submitted to Schwab by 5 p.m. January 17th. Bids must be in the form of an executed asset purchase agreement, accompanied by a deposit equal to 10 percent of the purchase price, provide for a closing no later than February 28th and demonstrate that the bidder has the necessary financial ability to buy the property. No minimum bid has been established.
Any objections to the sale must be field by 4 p.m. Jan. 17 with the court.
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