Mall owner General Growth Properties Inc. sought bankruptcy protection early Thursday in one of the largest real-estate failures in U.S. history, capping a precarious, months-long effort to juggle the crushing $27 billion debt load it shouldered in past acquisition sprees.The long-anticipated Chapter 11 filing might wipe out what remains of the Chicago company’s stock, but it won’t result in mall closures. ..General Growth, which owns and manages more than 200 malls, is the second-largest U.S. mall owner by number of properties behind Simon Property Group Inc.
By Kris Hudson, April 16, 2009 WSJ

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