Death by PE
AI-assisted reporting on ownership, financing and business outcomes. Each investigation includes source passages, financial categories, chronology, competing explanations and limits.
Published 2026-10-18 · Toys “R” Us
Toys “R” Us reported $460 million of worldwide operating earnings and $457 million of interest expense for fiscal 2016. The original U.S. retail operation liquidated in 2018; later operations use the surviving brand.
Examined: 2005–2018; separate brand-status evidence dated September 17, 2026
Read the investigation →Published 2026-10-18 · Red Lobster
Darden agreed to sell Red Lobster for $2.1 billion in 2014, with a separate approximately $1.5 billion property sale supporting acquisition financing. Red Lobster filed Chapter 11 in May 2024 and completed its emergence under new ownership that September while restaurants continued operating.
Examined: 2014–2024; separate operating-status evidence dated October 2026
Read the investigation →Published 2026-10-18 · Steward Health Care
Steward filed Chapter 11 on May 6, 2024, after Cerberus relinquished its controlling equity interest in 2020. Carney Hospital and Nashoba Valley Medical Center closed on August 31, 2024; five other Massachusetts hospitals transferred to new operators on October 1, 2024.
Examined: 2010 acquisition through 2024 bankruptcy and Massachusetts facility transitions; Cerberus equity ownership ended in 2020.
Read the investigation →Published 2026-10-18 · Hilton
Blackstone acquired Hilton on October 24, 2007, and retained majority ownership after the December 2013 IPO. Hilton reported 34% system-room growth from June 2007 to June 2013, a period beginning before the acquisition; Blackstone reported the final sale of its Hilton stake in the second quarter of 2018.
Examined: October 2007 acquisition through final stake disposal in Q2 2018; the reported growth baseline begins in June 2007.
Read the investigation →