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.
Every time I read something like this, it makes me want to burn money.
Well, money is only as valuable as we think it is, and what goods or services it can be traded for.
The money itself carries very little value itself, only what we assign to it, or associate to it.
If the economic system based on the currency currently in use collapses, the money you have won’t be worth the paper it’s printed on.