Inside Northern Kentucky » bankruptcy http://insidenorthernkentucky.com Northern Kentucky News and Resources Mon, 20 Jun 2011 18:37:59 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 Florence Mall Owner Heading for Bankruptcy http://insidenorthernkentucky.com/2008/11/12/florence-mall-owner-heading-for-bankruptcy/ http://insidenorthernkentucky.com/2008/11/12/florence-mall-owner-heading-for-bankruptcy/#comments Wed, 12 Nov 2008 12:02:01 +0000 Editor http://insidenorthernkentucky.com/?p=84 With the sale of the Florence Mall a few years ago to the General Growth Properties, the Florence Mall was looking as the place to be. General Growth Properties put in quite a few improvements, such as new businesses, a new and expanded food court and the carousel.

Today is a new day and it seems that General Growth Properties, which also owns the Kenwood Mall, is heading quickly for bankruptcy. With close to a reported $4 Billion in debt that they can’t pay, bankruptcy might be the only way for General Growth Properties to seek protection.

So, what would this mean for the Florence Mall as we are heading into this busy Christmas season? Probably not much right now. Even if General Growth Properties files for bankruptcy protection, it will be business as usual at the Florence Mall. You might not notice any new stores opening any time soon until the bankruptcy proceedings are well underway, but they doors will remain open for now.

General Growth Properties is a real estate investment trust with over 200 properties nationwide. They own properties in Hawaii, Chicago and Las Vegas, just to name a few other locations. They are the nations second largest owner and operator of mall’s also.

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