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Sunday, Sep 24, 2023

Glendale Galleria Owner Mulls Bankrupcty Filing

General Growth Properties Inc. warned Tuesday that it faces solvency trouble and may be forced to file for bankruptcy if it can’t refinance or extend nearly $1 billion in debt due next month.

The nation’s second-largest mall owner, whose holdings include the Glendale Galleria, also disclosed in a regulatory filing that it may default on certain debt obligations.

Making matters worse is an additional $3.07 billion in property and corporate debt slated to come due next year.

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Los Angeles Daily News


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