Bank looking to foreclose on Towne West Square mall
A petition filed in Sedgwick County District Court shows Wells Fargo Bank intends to foreclose on Towne West Square mall in west Wichita.
Details in the petition explain the mall's owners failed to make payments for improvements and repairs. Towne West Mall, LLC failed to pay into accounts tied to a $51-million loan taken out in 2011, the petition says.
The petition says Wells Fargo has filed suit seeking more than $45 million in principal payment, plus more than $220,000 in interest and an additional $60,000-plus in additional costs and fees.
The petition, consisting of more than 100 pages, does not disclose a timetable concerning the mall's future and the potential impact on shoppers.