Mall Giant General Growth Properties Files for Bankruptcy
Posted on 16. Apr, 2009 by Gouda in Business, Dis & Dat, News
General Growth Properties filed for Chapter 11 bankruptcy protection today. The company owns over 200 regional malls and other various development properties across the US. The malls they operate will remain open for the time being.
The company reported a debt of over $25 billion dollars last September, and it’s share price has dropped 97% in the past six months.
Well, all I can say is that at least I am not rich enough to own shares of anything because that would really piss me off if I invested in this company. The only investing I’ve done in them is probably eating Mrs. Field’s cookie cupcakes in their malls’ food courts.
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