General Growth Properties, operator of The Shoppes at Buckland Hills in Manchester and Brass Mill Center in Waterbury, said today it has filed for bankruptcy protection after failing to convince its debt holders to give it more time to refinance its crushing debt.
The nation’s second-largest mall operator also runs four Massachusetts malls — Faneuil Hall Marketplace, the Natick Collection, the Silver City Galleria in Taunton and the Swansea Mall. All of the mall’s remain in operation.
The Chicago-based real estate investment trust said it filed for Chapter 11 bankruptcy protection.
General Growth says it received a financing commitment of about $375 million and expects it will be able to continue operating as it reorganizes.
The company has about $29.6 billion in assets and more than $27 billion in liabilities. (AP)
