[RTC List] Bayshore Mall Files For Bankruptcy

[William Van Hefner]

All,

I thought that the story made things pretty clear. I'm not sure where
people got the idea that The Bayshore Mall would be shutting down. It's a
Chapter 11 (reorganization), not a liquidation. Besides, it looks like the
holding company may already have a buyer. The Bayshore Mall is not going
anywhere, anytime soon.


-- 
William Van Hefner
President - Vantek Communications, Inc.
e-mail: editor at humboldtonline.com




On Thu, April 16, 2009 9:29 pm, Bob Freeman wrote:
> I was driving through LA this morning and the radio was all about the
> large mall holding company that was going bankrupt.
>
> I'm sure that the Humboldt one is just part of the same group and sorry,
> but bankrupt does not mean that the mall will
>
> go away and become a Humboldt marsh, it will just be re-organized.
>
> I don't want to burst your bubble, but malls have features that "main"
> street will never have.like parking and  selection.
>
> People like malls cause they work..
>
>
> I've been in Humboldt before the malls and the Local, friendly, Main
> street merchants would happily charge more for the same goods with a
> smile.
>
> The Bayside Mall brought the prices down and ran off the price
> gougers.but I guess if you have lots of money, high prices for ambiance is
> a good thing!
>
>
>
> Don't worry, I don't even like to shop in a mall or local store.not my
> idea of a good time!
>
>
>
> Bob
>
>
> ====================
>
>
> BtB Software, LLC
>
>
> www.btbsoftware.com
>
> ph: 707.499.0035
>
>
> fax: 866.381.6887
>
>
> Alt Email: b29438.2007 at gmail.com
>
>
>
>
> & webmaster for www.caphld.org
>
>
>
>
>
>
>
>
> From: list-bounces at redwoodtech.org [mailto:list-bounces at redwoodtech.org]
> On
> Behalf Of Michael Meuser
> Sent: Thursday, April 16, 2009 1:26 PM
> To: list at redwoodtech.org
> Subject: Re: [RTC List] Bayshore Mall Files For Bankruptcy
>
>
>
>
> I'm not surprised either.  It may be the sign of a new and better
> beginning though. The mall had a lot to do with killing local businesses in
> Humboldt County - the damage has been done.
> Hopefully there is
> still enough entrepreneural spirit and capital for local business to
> reinhabit main streets up and down North Coast. The mall sold a lot of
> imported stuff that could be made here. It's time to reindustrialize
> and localize.
>
>
>
>
> On Thu, Apr 16, 2009 at 12:33 PM, William Van Hefner
> <vantek at humboldtonline.com> wrote:
>
>
> This doesn't seem to have hit today's newspapers or any local news
> websites that I know of yet, so thought that I'd pass it along. Not
> unexpected news, but still sad...
>
> Bayshore Mall, General Growth File For Bankruptcy Protection
>
>
> HumboldtOnline.Com, Eureka, Calif.
>
>
> General Growth Properties, Inc., the second largest mall owner in the
> United States, has filed for Bankruptcy in the United States Bankruptcy
> Court for the Southern District of New York.
>
>
> The Chicago-based corporation, which listed total assets of $29.56
> billion and total debts of $27.29 billion, sought Chapter 11 bankruptcy
> protection from creditors along with 158 of its more than 200 U.S. malls,
> as it struggles to continue paying down its debt. Included among the 158
> entities included in the bankruptcy are Bay Shore Mall II L.L.C., Bay
> Shore Mall Partners and Bay Shore Mall, Inc.
>
>
> Certain subsidiaries, including GGP's third party management business
> conducted by General Growth Management, Inc. and GGP's joint ventures have
>  not filed for protection. A complete list of subsidiaries and the
> related operating properties that have filed voluntary petitions can be
> found at http://www.ggp.com, as well as a list of operating properties not
> involved in the filings.
>
> GGP's retail centers, office properties and master planned communities
> will be open for business as usual as the company restructures its debt.
> Properties will continue to operate, and employees will continue to be
> paid.
>
> The company has hired law firms Weil Gotshal & Manges and Kirkland &
> Ellis
> to represent it, according to court papers.
>
> The case is In re: General Growth Properties Inc, U.S. Bankruptcy Court,
> Southern District of New York, No. 09-11977.
>
>
>
> --
> William Van Hefner - President
> Vantek Communications, Inc.
> e-mail: editor at humboldtonline.com
>
>
>
>
>
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> --
> Mike Meuser
> Right-To-Know More
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