Wife Tries To Abort And Poison Husband's Lovechild
Man Injured By Tree Limb Files Suit Against City
Charles Barron Will Run For Council Speaker
Alleged Tiger Mistress Is Unrecognizable To Dead Fiancee's Dad
New Jersey State Senate To Vote On Gay Marriage
General Growth Properties, the country's 2nd biggest mall operator, filed for Chapter 11 bankruptcy in a New York court today. Bloomberg News called the filing the "biggest real estate bankruptcy in U.S. history after amassing $27 billion in debt." Dealbook explains that GGP "has been severely wounded by the recession, which has wreaked havoc upon the retailers who inhabit its more than 200 malls in 44 states. Many stores have shuttered, depriving mall operators like General Growth of revenue." The company, which points out some subsidiaries aren't part of the bankruptcy filing, will spend the time to restructure its debt and points out on its website, "Our properties will continue to operate, our employees will continue to come to work and get paid, and shoppers will continue to shop." Last December, GGP considered selling the South Street Seaport, if there was interest.
South St. Seaport's Mall Operator Files For Chapter 11
add to stumble upon
add to reddit
tweet this
post to facebookComments (7) [rss]
Post a comment (Comment Policy)
Tips
Newsmap
Contribute
Latest Tip:
It's the same media that NEVER mentioned Muslims' hatred of Israel as a possible motive for 9/11.
[more]
Finally some good news; GGP are a bunch of scum. Hopefully the city will regain the property and auction it off to a new developer.
I think the last time that mall at the Seaport was worth going to was 1986.
The South Street Seaport Mall is shifty.
Make room for a Chelsea-like sports center!
How about making it into a maritime museum? Nah that wouldn't fit with the neighborhood very well. Stupid idea, forget I mentioned it.
Gothamist should do some reporting and get a quote from Councilman Alan Gerson.
it's actually really peaceful down there without all the tourists now. I remember when this was the first mall in manhattan until soho broadway destroyed their asses.
Good thing this puts the final nail in the coffin for that monstrosity they wanted to build. Seems like every other architect nowadays thinks he's the next Gehry. I wish there wasn't the first Gehry.