this post was submitted on 03 Jun 2025
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[–] OminousOrange@lemmy.ca 19 points 1 year ago (1 children)

That's the thing, the PE firm already sold the major assets (the real estate) to themselves and leased it back to HBC. It's their standard playbook.

[–] CompactFlax@discuss.tchncs.de 11 points 1 year ago

Exactly; the money is there but the PE leeches get to keep it all. “But bankruptcy” get the money or put the principals in prison, and work down the investor list.