Mall Bankruptcy: Where Will The Teenagers Go

Devastating news for most adolescents as their favorite malls--and parent-free hang-outs--are facing bankruptcy. General Growth Properties Inc., the nation's second-largest mall operator, filed for Chapter 11 bankruptcy protection, which owns local mall properties: Alderwood Mall in Lynnwood, Bellis Fair Mall in Bellingham, and Westlake Center in Seattle. With their stock prices cheaper than an on-sale pack of gum, financial reorganization will be key, for what's been claimed as the largest real estate failure. We just hope it can turn around, so it doesn't force a void (and access to the Monorail) in downtown.

Contact the author of this article or email tips@seattlest.com with further questions, comments or tips.

By Kim P. in News on April 16, 2009 9:05 AM

Comments [rss]

Audrey

Won't somebody think of the teenagers? THE TEENAGERS?!?!

Troy Morris

All we need is Kevin Smith to make Mallrats 2.

Joe G

The AP has reported that all malls will continue operation and that the bankruptcy will be invisible to the consumer.

Kim P.

Riiiight, when the WSJ is calling it the largest real-estate failure in U.S. history, you have to wonder about what's to come-or not. Plus, anything that comes from GGP will be IR friendly messaging, making sure they will keep stock holders and retailers worry-free. Ah, the beauty of words, approved by legal.

MvB

Their consumers are invisible already!

*rim shot*

Actually, that's the AP quoting GGP management, who are not likely to say otherwise unless events force their hand.