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General Growth Properties files for bankruptcy protection


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POSTED: Thursday, April 16, 2009

Ala Moana Center and Ward Centers will continue operating after parent company, General Growth Properties Inc., announced tonight that it and some subsidiaries filed for Chapter 11 bankruptcy protection.

The Chicago-based owner and manager of more than 200 shopping malls across the nation, including Ala Moana Center and Ward Centers, has fallen into debt in recent months.

Four malls in Hawaii are managed by General Growth Management Inc. and are not owned by General Growth Properties. GGMI did not file for Chapter 11 protection, meaning that operations at the four shopping centers are not affected by General Growth Properties’ filing.

Hawaii shopping centers managed but not owned by GGP are Queen Ka’ahumanu Center on Maui, Kings’ Shops on the Big Island, Windward Mall on Oahu and Kapolei Commons, West Oahu.