Tuesday, July 14, 2020

In pandemic era, private equity-owned retail is as vulnerable as ever

Retail Dive
Combine two leveraged buyouts with $5 billion in debt. Add a pandemic. Stir. 
If anyone, for whatever reason, were in need of a recipe for retail bankruptcy, the above is as good as any. It was enough to send Neiman Marcus into court to seek relief. Two private equity buyouts, funded by billions in debt, led to years of distress and ultimately bankruptcy this year. . . . more