US second largest shopping mall owner files for bankruptcy protection

Friday, April 17th 2009 - 07:30 UTC

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General Growth Properties, United States second-largest shopping mall owner filed for Chapter 11 bankruptcy protection on Thursday after failing to reach an out of court consensus on how to restructure its 27 billion US dollars debt. The Chicago based corporation which owns more than 200 malls in 44 states said shoppers at its malls will not be affected by its bankruptcy filing. Read full article

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randeg
What a crying shame this is. It goes to show that the economic downturn has not only affected the ordinary regular people but also the big shots who are owners of large real estate properties. I can't blame them for filling for bankruptcy as this will give them more time to restructure their debt.

Evelyn Guzman
http://www.debtchallenges.com/bonus.html (If you want to visit, just click but if it doesn’t work, copy and paste it onto your browser.)
Apr 17th, 2009 - 07:44 pm - Link - Report abuse 0
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