The Mall Really May Be Sinking This Time
General Growth Properties Inc. shares fell today after the nation’s second-largest mall owner warned it faces solvency trouble.
The Chicago-based real estate investment trust said it may be forced to file for bankruptcy if it can’t refinance or extend nearly $1 billion in debt due next month.
The company’s big-name holdings around the country include the Faneuil Hall Marketplace and Natick Collection in the Boston area. It also owns Providence Place in Rhode Island and other malls around New England.