by David Bodamer December 19th, 2008
A Delaware bankruptcy judge on Thursday authorized KB Toys to begin going-out-of-business sales.
Judge Kevin Carey granted the company’s request after attorneys said they had resolved several concerns of landlords and creditors about rent and other issues.
The Pittsfield, Mass.-based company plans to start liquidation sales Friday, with a targeted end date of Feb. 9.
“I can see no better, other alternative,” the judge said. “We’re at a time of year where unless the going-out-of-business sales go forward now, there’s hardly any sense in doing it.”
Link.
Related Topics: News, Retail |
by David Bodamer December 19th, 2008
General Growth Properties Inc., the Chicago-based shopping-mall owner that is trying to sell real estate to pay debt, put up for sale South Street Seaport in Manhattan, Faneuil Hall Marketplace in Boston and Harborplace & the Gallery in Baltimore.
General Growth hired broker DTZ Rockwood to market the three properties. The New York-based firm began advertising the portfolio this week, said John Coury, a DTZ Rockwood associate vice president who is working on the sale. No price was set for the properties, he said.
“We did send out the flier this week, so it’s really early in the process,” Coury said Thursday.
Link.
Past links and stories:
- December 18, General Growth Extension Comes Through
- December 15, GGP “Continuing its Discussions with Lenders”
- December 15, Breaking: GGP Refinances
- December 5, Citi Plays Hardball With GGP
- December 3, Centro, GGP Find Ways to Hang On
- December 1, GGP Gets Two Week Extension
- November 25, Ackman Builds Stake in GGP
- November 20, General Growth Hires Bankruptcy Advisor
- November 17, General Growth Downgraded; Feldman to Stop Filing Public Reports
- November 12, General Growth Roundup
- November 11, General Growth Warns of Default
- November 5, GGP, Kimco Fall After Cutting Forecasts
- November 2, General Growth “Almost Literally Worth Nothing”
- October 17, Management Changes at GGP
- October 15, Margin Calls Hit Two More Retail REITs
- October 7, General Growth Near Bankruptcy?
- October 3, General Growth CFO Steps Down; Company Suspends Dividend
- October 2, GGP Under Fire for Inclusion on Short-Sell Ban List
- October 1, Could General Growth Be Sold?
- September 23, Short Selling Banned on General Growth
- September 22, General Growth Strikes Back
- September 16, General Growth Offers More Recourse
- August 12, Another Look at GGP’s Debt
- August 6, Analysis of GGP’s Debt
- July 25, Stories With Bigger Implications?
- July 14, GGP Lines Up New Financing
- April 16, GGP’s Growing Debt Problem
Related Topics: Investment, News, REITs, Retail Real Estate |
