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- Headquarters are located in Chicago, Illinois
- Is a publicly traded Real Estate Investment Trust "REIT"
- NY Stock Exchange Symbol: GGP
- Second largest shopping mall owner in the U.S.Bloomberg.com: General Growth Files Biggest U.S. Property Bankruptcy (April 16, 2009)
- Employs approximately 4,200 peopleOfficial Site: About
- Owns malls in 44 statesOfficial Site: About
- Company operates over 200 propertiesBloomberg.com: General Growth Files Biggest U.S. Property Bankruptcy (April 16, 2009)
- Shopping malls total about 200 million square feet of retail spaceOfficial Site: About
- Owns the South Street Seaport in New York City and Faneuil Hall in BostonBloomberg.com: General Growth Files Biggest U.S. Property Bankruptcy (April 16, 2009)
- Established in 1954 when Matthew and Martin Bucksbaum expanded their family grocery store in Iowa; became one of the first shopping malls in the MidwestBloomberg.com: General Growth Files Biggest U.S. Property Bankruptcy (April 16, 2009)
- GGP expanded and became the second largest mall owning business in 1989Bloomberg.com: General Growth Files Biggest U.S. Property Bankruptcy (April 16, 2009)
- Acquired large sums of debt after purchasing Rouse Co. in 2004
- Filed Chapter 11 bankruptcy on April 16, 2009Bloomberg.com: General Growth Files Biggest U.S. Property Bankruptcy (April 16, 2009)
- At the time of the bankruptcy the assets were listed as $29.5 billion and debts of $27.3 billion
- Sought bankruptcy relief under chapter 11 in April 2009
- Assured the public that their malls would remain open as usual while the company restructures debtOfficial Site: Restructuring Info
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Chicago's General Growth Properties (GGP) is the second-largest operator of retail malls in the United States. On April 16, 2009, the company filed for chapter 11 bankruptcy. General Growth Properties' bankruptcy followed failed efforts to persuade debt holders to refinance. GGP's debt totaled $27 billion, making the bankruptcy the largest real estate bankruptcy in the history of the U.S. The company owns and operates over 200 malls in 44 states.Bloomberg.com: General Growth Files Biggest U.S. Property Bankruptcy (April 16, 2009)
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