And the hits just keep on coming -- though General Growth Properties' filing for Chapter 11 protection
this morning wasn't exactly a surprise. Way back in November, we pointed to the Chicago-based mall owner's fiscal issues involving more than a billion in overdue debt payments
, which puts in jeopardy the seven DFW-area malls owned and/or operated by GGP, among them Collin Creek Mall
, The Parks at Arlington
, Vista Ridge Mall
, Town East Mall
, Hulen Mall
and Stonebriar Centre
and the Galleria Dallas
, which GGP manages. Notes Bloomberg news
, the company's $27 billion in debt and 200 properties nationwide makes this "the biggest real estate bankruptcy in U.S. history." But, for now, do keep shopping: "All day-to-day operations and business of all of the Company's shopping centers and other properties will continue as usual,"
says the company's release.