The Mills Denies Bankruptcy Rumors

The Mills Corp., a real estate investment trust based in Chevy Chase, Md., has denied that it might be forced to seek bankruptcy protection if it is not able to repay a major loan.Responding to news reports about a possible bankruptcy filing by the retail REIT, Mills said it has negotiated an extension of its senior term loan with Goldman Sachs Mortgage Co. and expects to be in compliance with the terms of the loan. Mills also has the option to request a further extension on the loan, the REIT said. After a recent investigation of its accounting policies, Mills has also taken some action, including a restatement of its recent financial results. Meanwhile, the REIT said it is continuing to explore "strategic alternatives." The company can be found online at http://www.themills.com.