Troubled mall owner may file bankruptcy
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That's the word from officials of the company that owns the mall, after several reports this week of financial hardship. General Growth Properties (GGP), which also owns Columbia Mall, is the nation's second-largest mall owner.
The company has been hurt by falling funds from operations and a tightening global credit market.
“Regardless of what happens, there will not be an impact to our customers at our facilities.” General Growth Properties Corporate Spokesman David Keating said Thursday morning, in a telephone interview from his Chicago office.
According to national reports, the company warned Tuesday that it may file for bankruptcy after its shares fell 64 percent in regular trading.
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ndnlvngcherokee wrote on Nov 24, 2008 12:38 PM: