Two years ago, one of the world’s largest retailers of children’s toys, Toys “R” Us, filed for Chapter 11 bankruptcy, closing more than 1000 stores across the country.1 Many financial observers trace its demise to the 2005 takeover by private equity firms. The new owners paid themselves handsome fees, eliminated positions, reduced employee benefits, and forced the retailer to take on billions of dollars in additional debt.1 When the weakened company was unable to mount a strong defense against online retailers, bankruptcy soon followed.
Sharfstein JM, Slocum J. Private Equity and Dermatology—First, Do No Harm. JAMA Dermatol. 2019;155(9):1007–1008. doi:10.1001/jamadermatol.2019.1322
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