Galleria/Century Plaza Owner Files for Chapter 11

The firm that owns the Riverchase Galleria [SEE UPDATE BELOW] and Century Plaza in Birmingham has filed for bankruptcy. General Growth Properties has been struggling with billions of dollars of debt, but says daily operations of the malls it owns across the country will not be affected. According to the company's website, they own: 200 regional shopping malls in 44 states, as well as ownership in master planned community developments and commercial office buildings. The Company’s portfolio totals approximately 200 million square feet of retail space and includes over 24,000 retail stores nationwide.

[UPDATE: Birmingham News says Galleria was not included in properties listed in bankruptcy filing. Not sure at this point about Century Plaza.]

[UPDATE #2: The Riverchase Galleria is owned by GGP but is NOT included in the bankruptcy filing. Century Plaza is also owned by GGP and IS included.]