Big mall operator bankrupt

| | Comments (0) | Retweet

In a sure sign of the recession's impact, a huge mall owner has filed for bankruptcy. General Growth Properties filed for Chapter 11 protection in what the Wall Street Journal is calling "one of the largest real-estate failures in U.S. history." General Growth is the nation's second-largest mall operator, behind Simon, and owns 200 malls including Boston's Faneuil Hall.

The bankruptcy filing is not supposed to affect mall operations or sales. But it could have an impact on consumer confidence, and shoppers may shy away from General Growth's malls, leading to a latent sales decline at the stores within them. The bankruptcy proceedings could take years due to the size of the company's holdings.

0 TrackBacks

Listed below are links to blogs that reference this entry: Big mall operator bankrupt.

TrackBack URL for this entry:

Leave a comment

Timely Demise tracks the retail industry as it changes with our unprecedented economic environment. Published by David Wertheimer. Did I miss something? Drop me a line.

About this Entry

This page contains a single entry by David Wertheimer published on April 17, 2009 8:21 AM.

Reblogging the Times: brands and sales was the previous entry in this blog.

Izod, Panama Jack company liquidating is the next entry in this blog.

Find recent content on the main index or look in the archives to find all content.