BY HELEN HEADLEE

TIGER TV ONLINE REPORTER

Twelve banks that lent Perkin’s Rowe it’s construction costs decided to foreclose on the property last month, according to a district court trial docket.

For the businesses and tenants nothing will change soon. Most businesses have done well and will stay until further notice. So far only the store Maude has closed.

It started in October when Perkins Rowe stopped making payments on the interest of its $170 million loan. After months of negotiations, the banks came to their decision, said Baton Rouge Business Report.

LSU students have mixed views on the foreclosure as Perkins Rowe is popular with students.

“I’d be sad for California Pizza Kitchen to close,” biology sophomore Allison Schreiber said.

However, other students are not surprised.

“It would be one less movie theater,” english sophormore Corrin Crawford said.“But so many of the stores are so expensive I’m not surprised it’s in trouble.”

The shopping center has three options left : refinance with the banks, file Chapter 11 bankruptcy or go through with the foreclosure. The Advocate said Perkins Rowe is currently trying to refinance and find new lenders.

No matter what happens to Perkins Rowe it will take many months to play out, and for now it is entertainment, eating and shopping as usual.