Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Chapter 11 protection typically allows a company to hold off creditors and operate as normal while it develops a financial reorganization plan......
It also said it will continue operating all of its shopping centers during the bankruptcy process. The company said shoppers at its malls will not be affected by its decision to file for bankruptcy protection.
"Our restructuring will be invisible to the customers who visit our properties every day," President and Chief Operating Officer Thomas H. Nolan Jr. said during a morning conference call.
News and Observer - Mall operator files for bankruptcy protection
(http://www.newsobserver.com/1565/story/1488253.html - broken link)
How many malls can there possibly be in Rhode Island? Three?
And your point is? Fewer malls means that the state is more dependent on the few that they have (ie tax revenue, employment etc) which + a big hit for a small state.
I've been to Streets of Southpoint the past couple of weekends and they were pretty busy. I guess people aren't buying like they used to, but still want to go "window shopping". I bought some clothes from JC Penny, but only because they had a(nother) sale and I was able to get some pretty good deals. I hope the mall continues to operate as usual, because we really like going out there. I know it's all about the economy, so hopefully things will turn around at some point (soon!).
I assume they'll sell it to another property management firm? Just can't see them shutting down the place completely, then again we saw what happened with North Hills back in the 90s.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
