Mall Titan General Growth Cuts Itself Down
The nation's second-largest shopping mall operator, General Growth Properties, which filed for Chapter 11 bankruptcy on Apr. 16, fell victim to the credit crunch and overambitious managers. But it is not likely to be followed into ruin by other big mall competitors, analysts and industry insiders say. Indeed, the bankruptcy filing by General Growth, which owns more than 200 malls in 44 states along with residential real estate and master planned communities, could make for an efficient way for rivals to pick up trophy properties.
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