PROVIDENCE, R.I. (WPRI) — Attorneys overseeing the Providence Place mall receivership are expected to provide insight this week into the current operations and finances of the shopping complex, which they hope will ultimately be put up for sale. John Dorsey, one of two court-appointed receivers, is scheduled to appear Wednesday in R.I. Superior Court, where he's expected to provide a judge with an update on what's happened since he and his partner Mark Russo took control of the mall on Nov. 1. Superior Court Judge Brian Stern ordered the mall into receivership in October after its biggest creditors said the mall's former property management company -- Brookfield Properties -- defaulted on a $259 million debt, according to court documents. RELATED: Changes coming to Providence Place as receivers try to turn the mall around Dorsey and Russo pushed out Brookfield last month and entered into a one-year deal with a new property management company, Centennial Real Estate Management. Texas-based Centennial operates 23 million square feet of retail and mixed-use properties in 18 states, and was recommended by the mall's creditors, according to court documents and a news release. “Part of our current court-supervised receivership process is designed to stabilize and strengthen the mall’s operations and financial health," Russo said in a statement Tuesday. "Centennial’s proven track record in revitalizing retail spaces will help us bring in new perspectives, strategies, and tenants that support a strong future for Providence Place." In addition to getting a handle on lease agreements and day-to-day operations, the attorneys have also been meeting with dozens of tenants that currently rent space and sell goods inside the 1.4 million-square-foot mall. The engagement comes as one of the mall's anchor tenants, Macy's, has been closing stores across the country and recently listed the Providence location for sale. MORE: Providence Place receivers looking for ‘new anchor presence’ as Macy’s evaluates future Russo and Dorsey said they will actively seek new tenants and have been "working closely with Macy's, confirming plans for the Providence store to remain open for the immediate future serving customers in the area." "While the mall’s many stores continue their offerings at Providence Place, we are actively pursuing opportunities to bring in exciting new tenants to further improve its appeal," Russo said. "The mall’s prime location, high visibility, and established reputation make it an attractive destination for businesses looking to reach a diverse and dynamic customer base." Receivership -- a state-level version of bankruptcy -- typically ends with attorneys shoring up an enterprise's finances, executing a sale and paying off creditors. The mall's creditors and the receivers have said they ultimately want to try and sell the mall, which is expected to be discussed at the Wednesday hearing. Asked if selling the mall is still the plan, Russo said, "that has not changed, but we are not at that point as of yet." The receivership order gives the lenders authority to hire a real estate broker “to market for sale the mall and to otherwise advertise for sale and solicit offers to purchase the mall.” Dorsey said that while the receivership moves forward, the receivers also plan to meet with community leaders to discuss what the shopping complex might look like in the future, as mall owners have struggled to reinvent complexes across the country amid dwindling patronage and sales. The mall is also facing a separate financial cliff in the next few years, as a decades-old tax treaty with Providence is set to expire in 2028. The deal gives the mall a massive tax break each year, and so far there's been little appetite among city leaders to offer an extension. "We’re committed to doing all we can to make Providence Place mall a reinvigorated destination and key asset for our city and state," Dorsey said in a statement. Eli Sherman ([email protected]) is a Target 12 investigative reporter for 12 News. Connect with him on Twitter and on Facebook. Close Thanks for signing up! Watch for us in your inbox. Subscribe Now Daily Roundup SIGN UP NOW