Petsmart drowning in 8 BILLION in debt! May file bankruptcy!

Looks like Petsmart is going to go bankrupt. Over 8 BILLION in debt!

“The nation’s leading pet supplier has to figure out how to pay $8.1 billion in bond and loan maturities even as its sales and margins are shrinking. Half that debt traces back to a 2015 buyout led by private equity firm BC Partners, whose bidding was so aggressive that it actually topped its own offer to seal the deal, leaving veteran rivals agog at the final price.”

www.bloomberg.com/news/articles/…in-trouble

bad management
crazy buyouts

 

h/t CyberDan