Second largest mall operator files for bankruptcy, they operate malls in 44 states!

[w¡n9Nµ7 §£@¥€r 123]

The nation's second largest mall operator, General Growth Properties, on Thursday filed for bankruptcy protection.

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The Chicago-based firm, which operates malls in 44 states, was brought low by an aggressive growth and acquisition strategy funded by debt.

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The company was ultimately unable to refinance much of its debt, and was forced to file bankruptcy.

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"In the medium to long term, bankruptcy, and new credit agreements will require (General Growth) properties to be economically viable. Retail lease agreements will have to make economic sense otherwise the properties and the leases will have to be reorganized."

http://www.marketwatch.com/news/story/Gene...p;dist=hplatest

[Peikko 1,575]

It doesn't mean anything though, the Malls will not close - for now...

[w¡n9Nµ7 §£@¥€r 123]

It doesn't mean anything though, the Malls will not close - for now...

Not for now, but in the medium to long term, some may:

"In the medium to long term, bankruptcy, and new credit agreements will require (General Growth) properties to be economically viable. Retail lease agreements will have to make economic sense otherwise the properties and the leases will have to be reorganized."

[Peikko 1,575]

Retail leases must make economic sense? Scandalous!

[pedroh 21]

good.. finally the retailers will pay a decent amount, instead of paying those crazy leases they usually charge

[Mr. Big Dog 10,747]

It doesn't mean anything though, the Malls will not close - for now...

Not for now, but in the medium to long term, some may:

Don't get my hopes up.

[Craneman 2]

It doesn't mean anything though, the Malls will not close - for now...

Total missmanagement, restructure change management.

[Trumplestiltskin 5,791]

Good. Who needs to buy $hit anyway.

[pedroh 21]

online ftw

[Trumplestiltskin 5,791]

online ftw

stick it to mom & pop stores

[pedroh 21]

i do support my local businesses.. i usually buy in the neighborhood stores around me.. except the waffle house, but they're cool so I don't mind buying their franchised food

oh but they are latino, arab and asian stores! I'm not supporting america..

[Trumplestiltskin 5,791]

i do support my local businesses.. i usually buy in the neighborhood stores around me.. except the waffle house, but they're cool so I don't mind buying their franchised food

oh but they are latino, arab and asian stores! I'm not supporting america..

[Bobby+Umit 161]

Just means the Number One Mall operator is about to get bigger...