on the 2010 album "The Suburbs," the desolate lyric would prove to be more than just an errant observation. Rather, it would become an encapsulation of the retail industry at large.
After the housing bubble burst, the US experienced the worst recession since the Great Depression. Thousands of people lost their jobs and commerce suffered, including the major retailers. The collapse of Toys R Us, which officially closed its doors in June 2018, became emblematic of the private-equity problem.Though Toys R Us was once the biggest toy seller in the US, the proliferation of smaller chains, as well as increased competition from major retailers like Walmart and Target,However, its hope for a turnaround — in the form of a joint $6.6 billion leveraged buyout by Bain Capital, Kohlberg Kravis Roberts, and Vornado Realty Trust —quickly went south.
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