Future Uncertain for CT Malls

The owner of two Connecticut malls appears to be on the brink of bankruptcy. 

The Providence Journal is reporting that, General Growth Properties, laced its federal regulatory filings with cautionary language about its precarious financial position.
The company has nearly $1.2 billion in past due debt and about $4.09 billion of debt that could be accelerated.
General Growth Properties owns Brass Mill Center in Waterbury and The Shoppes at Buckland Hills in Manchester.
The company manages or has ownership stakes in more than 200 malls in 44 states. General Growth Properties is currently trying to sell Providence Place Mall in Rhode Island to raise cash.
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