In a move that’s sure to shock and frighten the city’s Orange Julius lovers, General Growth Properties – the Chicago-based outfit that owns and runs our beloved Oakwood Mall – filed for Chapter 11 Bankruptcy today. It’s a complicated issue, but let’s try and soldier through the murky details:

They got lots of debt and they cannot pay it.

Whew. WQOW.com says, “The company says the decision came after extensive efforts to refinance or extend maturing debt outside of Chapter 11. Under the filing, GGP can reduce and restructure its debt. Business at Oakwood Mall is expected to continue as usual.”

So, all them savory soft pretzels and that gorgeous makeup counter at Younkers aren’t going anywhere. As for General Growth, they maintain the second largest shopping mall empire in the country, with 158 retail centers. Interestingly, banks across the country have foreclosed upon and seized a handful of those malls just this year – such as this one outside of New Orleans, cleverly named Oakwood Shopping Center.