PROVIDENCE, R.I. (WPRI) — Providence Place is set to undergo some changes as receivership attorneys begin making investments to try to turn the mall around. The mall's court-appointed receivers said shoppers should expect to see a boost in security and maintenance in the next few weeks. Improvements will also be made to the parking garage after the holidays. The state's largest shopping center was ordered into receivership, a state-level version of bankruptcy, late last month after its management company defaulted on a $259 million debt. Tim Howes, a finance professor at Johnson and Wales University, told 12 News that the receivers' current goal is to make up as much of that money as they can. "For every dollar owed, they're going to collect pennies ... Preferably lots of pennies," Howes said. "The idea is to get closer to that dollar." RELATED: Providence Place receivers looking for ‘new anchor presence’ as Macy’s evaluates future The receivers are looking to sell the mall, as opposed to transforming it into something else or tearing it down. It's unclear exactly how much money the receivers are investing in the improvements. But Howes said the end result will be worth it. "I'd say these [improvements] are small potatoes in the grand scheme of things," he explained. Howes said the mall's parking garage specifically is in need of a facelift, which is why he's pleased to hear the receivers have factored that into their plan. "Sometimes when you're leaving it's like a labyrinth," Howes said. "It's almost like a corn maze to get out of there." This comes as the mall also contends with the potential loss of one of its longtime anchor tenants. Macy's, which as Filene's was one of the mall’s original anchor tenants when it first opened in 1999, was listed for sale last week. This comes after Macy’s executives warned investors earlier this year that the retail giant would close 150 unproductive namesake stores by 2026. Report: Macy’s inside Providence Place listed for sale The receivers, who proactively reached out to Macy's to discuss the store's future at Providence Place, said no immediate changes are in the works. But they could not definitively confirm the store's long-term presence. Howes warned that the mall still needs to bring in more national retailers to raise its value, especially if Macy's ends up leaving. The mall's receivers confirmed that they recently introduced themselves to the Macy's team. Howes believes this was done so they can try to figure out the company's intentions moving forward. "If Macy's does close and they've got three floors, [the receivers are] going to be saying, 'Hey, we're going to have some space coming up," he explained. Macy's is expected to remain at the mall for the rest of the year, though a decision has not been made on its future. The receivers told 12 News that they will work with Macy's to find a new anchor tenant if that is the case. Close Thanks for signing up! Watch for us in your inbox. Subscribe Now Daily Roundup SIGN UP NOW