General Growth: Slow and Steady Strategy

CHICAGO-In March 2009, General Growth Properties Inc. (GPP) filed for Chapter 11 bankruptcy. Weighed down by maturing loans and an economy that was particularly cruel to the retail sector, the mall owner relied on help from the courts for help with debt restructuring, while finding equity partners to help out.

In November, 2010, the company emerged from bankruptcy. And two years later, it presented a couple of pieces of news to demonstrate it’s moving toward profitability and reasonable success. The strategic focus of the company involves 1) the sale of non-core assets; 2) conversion of temporary leases to permanent spaces; 3) delivering and 4) executing its redevelopment plan. A recent earnings call demonstrated that the company is moving forward on the first two strategies.