Basically, the company had to pay for its own buyout when private equity firms KKL, Vornado, and Bain bought the company for $6.6 billion, mostly with loans.
Because the company then had to pay off those extreme loans, they were forced to sell off their assets and property, which they leased back from the very private equity firms that now owned them.
The same thing happened more recently with Red Lobster and JoAnn Fabrics.
Looks like EA is next on the chopping block.
Glad I stopped caring about the game industry.
Now it’s just fun to laugh and point the finger at all the morons/losers getting taken advantage of for being stupid.