Shop Till It Drops

Chicago- based real estate investment trust General Growth Properties asked holders of more than $2 billon in its bonds to put off calls for payment this year while it tries to refinance.

General Growth owns a 50% stake in master-planned community The Woodlands, and owns Baybrook Mall, Deerbrook Mall, First Colony Mall, The Woodlands Mall, and Willowbrook Mall.

The company stated that it “may seek legal protection from our creditors due to the weak credit and retail environment.”

GGP stock, which traded at over $40 per share last spring, closed today at 61 cents.