Private equity faces existential crisis in US as unsold companies pile up

Private equity firms and the companies they own employ over 13 million, from startups to rural hospitals and large retailers, but experts’ concerns of collapse are growing Retail stalwarts Saks and Eddie Bauer filed for bankruptcy. Kmart and JoAnn Fabrics are gone for good, a trail of layoffs and disappointed customers in their wake. Hospital giant Steward Health Care collapsed, costing thousands of jobs and leaving several communities without a local hospital. These once-trusted US companies…