Private prison giant CoreCivic is seeking to counter negative publicity and reverse its falling stock as the national criminal justice reform debate plays out at a South Nashville prison.
CoreCivic, based in Nashville’s Brentwood suburb, announced a financial restructuring this week that will shift profits to paying down debt and investing in new and improved properties while reducing its dependence on credit lenders.
The company will revert to a C corporation for the second time in seven years. Its stint as a real-estate investment trust (REIT) will end at the beginning of next year. The change will increase its taxes