Chico Mall’s mixed bag
News of parent company’s possible bankruptcy hits amid expansion plans
The future of Chico’s mall, like many retail hubs of late, is on uneven ground after its parent company, General Growth Properties, announced it may file for bankruptcy.
The announcement came Tuesday (Nov. 11), and MSN.com reported that GGP, which owns 200 malls around the country, was removed from the S&P 500 Index after trading Wednesday. The company announced in August that it might sell some properties, but did not name which ones.
Just last week, Chico City Manager Dave Burkland said Chico Mall had plans to expand by 80,000 square feet. Christine Cullen, the mall’s general manager, said those plans, which went before the Architectural Review Board last week, were still under way. A phone call to GGP was not returned by press time.