Tuesday, June 25, 2019

Private Equity Retail ‘Abuses’ Spur Senator to Plan Legislation

Wisconsin Senator Tammy Baldwin is adding her voice to a growing list of politicians admonishing private equity’s stewardship of debt-laden retailers. And she says she is trying to do something about it.

“There are definitely active discussions” toward legislation that would address the collapse of struggling companies tied to buyout firms, Baldwin said in an interview Thursday following the release of a letter chiding Sun Capital Partners Inc. for its management of bankrupt retailer Shopko Stores Inc. “Legislation will be designed so this doesn’t happen again.” . . . more