Without me looking didn't they undergo a leveraged buyout?

It can be difficult for any company to survive an LBO in the best of times.

Once the capital reserves are gone, the debt service eats the remains. While certain bankers walk away with all the meat leaving the bones behind.

If you like books you can read When the Machines stopped. If you like movies a more comical look is Other Peoples Money with Danny Devito. I do realize these are one side views on the subject to make capitalism look bad.