Port-a-Potty Company’s $2.4 Billion Debt Wiped Away in Bankruptcy
Port-a-potty company files for bankruptcy to wipe away $2.4bn in debt; well, that headline certainly grabs your attention, doesn’t it? It’s the kind of thing that makes you pause and think, “How in the world…?” And the answer, as so often seems to be the case these days, points straight to the world of private equity. That’s because the company in question, let’s call it “Shit Happens Inc.” (I’m just kidding, obviously) is owned by a private equity firm.
This, unfortunately, isn’t exactly a surprise. Private equity firms have a well-documented playbook. They swoop in, often with leveraged buyouts – meaning they borrow a lot of money to buy the company in the first place.… Continue reading
Matt Underwood