Shopping as Usual Promised During Mall Reorganization

General Growth executives emphasized yesterday that business would continue as usual at all of the company's shopping malls during reorganization under Chapter 11 bankruptcy protection. Company President Thomas Nolan said he was determined to make the process "invisible" to shoppers.

Harlan Platt, a business turnaround expert and finance professor at Northeastern University, said the filing could actually be good news for consumers. Vendors and suppliers are generally more willing to provide services such as maintenance once a bankruptcy filing is announced and they are assured of payment, he said.

"Uncertainty, which has been sort of looming over everyone's head in this case, is now removed," he said.

Platt also said tenants are unlikely to leave General Growth's malls because of the Chapter 11 filing. However, he doesn't anticipate new deals. Here's a look at how General Growth's properties in the Washington region stack up:

Tysons Galleria: General Growth has made a concerted effort to turn the mall in McLean into one of the region's most exclusive shopping centers over the past decade. The company considers the center a "platinum property." It boasts high-end retail names such as Versace and Chanel, and is anchored by luxury department stores Saks Fifth Avenue and Neiman Marcus along with Macy's and the Ritz-Carlton hotel. Sales per square foot average $680, according to the Directory of Major Malls. The figure for other local properties was not available.

Landmark Mall: This shopping center in Alexandria has been plagued by vacancies in the past, and plans to revitalize the mall have repeatedly been put on hold. Landmark opened in 1965 and was last renovated in 1990. Anchors include Sears, Macy's and Lord & Taylor.

Mall of Columbia: In the fall, General Growth submitted a proposal to build an additional 1 million square feet of retail over the next three decades in the neighborhoods around this shopping center, which functions as the heart of the planned community of Columbia. The fate of the project remains uncertain. General Growth took over the mall when it acquired Columbia-based developer Rouse in 2004. General Growth consists of a number of cross partnerships and divisions, and the Columbia mall is not listed among the properties that are part of the bankruptcy protection filing.

Harborplace & The Gallery: The company put this tourist destination in Baltimore's Inner Harbor up for sale late last year in a bid to raise cash and stave off bankruptcy. The center's collection of shops and restaurants, which include Phillips Seafood and the Cheesecake Factory, helped revitalize the waterfront when the project was opened in 1980. General Growth is also selling Boston's Faneuil Hall Marketplace and New York's South Street Seaport through broker DTZ Rockwood. The three properties together had retail sales of $300 million last fiscal year.

Others: General Growth also operates Laurel Commons in Maryland and the Shops at Georgetown. These partnerships are not listed among those filing for bankruptcy protection.