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General Growth posts wider loss
Published: 11/7/2009 12:26 AM
General Growth Properties Inc., the mall owner that filed the biggest real estate bankruptcy in U.S. history, said Friday funds from operations dropped 44 percent in the third quarter on declining consumer spending and costs associated with the filing.
The net loss widened to $117.4 million, or 38 cents a share, from $22.3 million, or 8 cents, a year earlier, the company said. Funds from operations fell to $100.2 million from $178.9 million.
The company filed for Chapter 11 bankruptcy protection in April after failing to refinance debt amassed to pay for acquisitions.
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