Basically, the company had to pay for its own buyout when private equity firms KKL, Vornado, and Bain bought the company for $6.6 billion, mostly with loans.

Because the company then had to pay off those extreme loans, they were forced to sell off their assets and property, which they leased back from the very private equity firms that now owned them.

The same thing happened more recently with Red Lobster and JoAnn Fabrics.

    • GnerphBaht@sopuli.xyz
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      1 day ago

      The Supreme Court said corporations are people enough to be protected by the first amendment.

      • Jerkface (any/all)@lemmy.ca
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        1 day ago

        The Supreme Court can say the moon is a person and the sun is God. It can decide what entities it will extend the protection of rights to, but it cannot redefine what a person is outside of its own technical jargon.