Retail stalwarts Saks and Eddie Bauer filed for bankruptcy. Kmart and JoAnn Fabrics are gone for good, a trail of layoffs and disappointed customers in their wake. Hospital giant Steward Health Care collapsed, costing thousands of jobs and leaving several communities without a local hospital.
These once-trusted US companies have one thing in common: they were owned by private equity investors, who load companies with debt when they buy them and squeeze out profits as they restructure. READ MORE
