Mall operator seeks nine-month extension: General Growth Properties, the financially troubled parent company of the Mall of Louisiana, plans to formally ask bondholders to grant nine months of breathing room as it juggles debt and seeks to avoid bankruptcy, the Wall Street Journal reports. The company will begin sending consent solicitation, asking bondholders to abstain from demanding payment of principal and interest on its debt for the rest of the year. The company has a debt load of $27 billion and lacks the cash to pay it and can’t borrow the money to refinance it.
Help for employees: Workers may qualify for the Louisiana Workforce Commission’s Small Business Employee Training Program, which will provide up to $3,000 in training classes per fiscal year. To qualify, the employer must pay unemployment insurance in the employee’s name. There is no limit on the training programs that can be taken and no limit on employees from a company who can participate in the program. For more information, visit the Louisiana Workforce Commission’s SBET webpage here.
