Opry Mills to be closed for another year.

Opry Mills mall will not reopen for at least a year, possibly longer, owners said this week.

Officials with Simon Property Group, which has a 50 percent ownership stake in the shopping destination, said they never intended to reopen for this year’s Christmas shopping season and that their original goal of opening next summer is now in doubt, having filed a suit this week against its insurance providers.

“We were working toward a grand re-opening in August of 2011,” said Gregg Goodman, president of Simon subsidiary The Mills, in an e-mail, “but without receiving the funds from the insurance companies, we will be unable to make this date.”

Mall owners filed suit this week against 17 insurers, claiming they are withholding $150 million of the $200 million in coverage owners say they are due. Repair work at the mall is nearing the $50 million mark, at which point work will stop, Goodman said.

SOURCE: Nashville Business Journal - by Eric Snyder Staff Writer