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Don't Fret, Bankruptcy Won't Shut Your Mall
Real estate experts say it will be business as usual at local malls despite General Growth Properties' Chapter 11 filing.
Apr 16, 2009 CNNMoney.com Parija B. Kavilanz
Experts say consumers are unlikely to see their area mall disappear after General Growth Properties, the second-largest mall owner in the country, filed for bankruptcy Thursday.
"It will be business as usual for consumers and stores in these malls," said Ivan Friedman, president & CEO of RCS Retail Real Estate Advisors.
He also said that it's very rare for a mall to be shut down.