
The world’s hottest shopping city is becoming a ghost town - imartin2k
https://nypost.com/2018/04/07/the-worlds-hottest-shopping-city-is-becoming-a-ghost-town/
======
SlowBro
> _New York’s vacancy crisis is due to the same factors that wiped out malls
> and chain stores across the United States: the rise of online shopping,
> private-equity takeovers that saddled retailers with too much debt, and
> shoppers’ changing tastes._

Could someone explain what this means? "private-equity takeovers that saddled
retailers with too much debt"

I asked myself, how could a 9.1% reduction in store presence cause such an
avalanche of store closures? If debt is the cause, it could be that retailers
stretched margins razor thin with debts on the promise of future sales, only
to be stymied to the tune of 9.1%, which was enough to trip the circuit
breakers and default.

