This is just like the part in Goodfellas where Big Paully gets control of the bar/restaurant, just without the arson. Get ownership, run up debt then walk away.
That’s exactly what happened. They were selling product and making profit. Freedom Group saddled them with so much debt, though, that they had no chance of getting out from under it. This wasn’t a product or profit issue, it was typical private equity hijinx.
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