GGP Now Using the “B” Word

According to this article by Alby Gallun in yesterdays Chicago Real Estate Daily, General Growth Properties is now openly suggesting for the first time that it may have to seek bankruptcy protection. In a quarterly report filed after the markets closed yesterday, GGP reported that “Our potential inability to address our 2008 and 2009 debt maturities in a satisfactory fashion raises substantial doubts about our ability to continue as a going concern,”