PREIT, which owns Exton Square Mall, has dismissed its auditor, KPMG, and has brought on a new accounting firm, according to the SEC. Natalie Kostelni reports the latest PREIT news for the Philadelphia Business Journal.

The new PREIT auditor is BDO USA LLP, a part of BDO International, a global accounting network headquartered in Chicago.

PREIT terminated its 20-year partnership with KPMG International (a global accounting firm headquartered in the Netherlands) last week.

The account shift came about when PREIT implied in its recent annual report to the SEC that it has “substantial doubt in its ability to survive” in the coming year, in light of its $1.2 billion debt.

To offset these costs, PREIT is looking for ways to alleviate this burden, like the impending sale of Exton Square Mall, which entered into an agreement with a developer around the middle of March.

PREIT owns and operates more than 23 million square feet of retail space in nine states.

Read more about PREIT in the Philadelphia Business Journal.