Mall operator General Growth Properties files for Chapter 11 bankruptcy protection
General Growth Properties, which owns more than 200 malls including Faneuil Hall in Boston and the South Street Seaport in Manhattan, filed for Chapter 11 bankruptcy protection Thursday, April 16, 2009, in a tough bargaining move to restructure its $27 billion in debt.
General Growth Properties Inc said on Wednesday it was ready to give suitors information, as it squared against creditors at a hearing over how much time it should be allowed to be the only party that can file a reorganization plan.