• some_guy@lemmy.sdf.org
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    3 months ago

    As far as I can tell, Pride Group is not associated with LGBTQ+. At least, the article didn’t suggest they are.

  • prime_number_314159@lemmy.world
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    3 months ago

    “Along with Mitsubishi HC Capital, more than 20 other lenders have filed claims totaling $637 against Pride Group, according to filings with the U.S. Bankruptcy Court for the District of Delaware.”

    I know it’s a nitpick, but I don’t like when articles just leave out the million in a sentence like this. C’mon, editor… numbers are important.

  • psvrh@lemmy.ca
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    3 months ago

    This kind of makes sense; this industry has seen a lot of debt-fuelled M&A over the last few years, and it tends to be a very debt-fuelled industry anyway (floating lines of credit, vehicle leases, etc), and with interest rates rising, the cost to service that debt comes right off the bottom line.

    What will be interesting, in the Chinese “May you live in interesting times” curse sense of the word, is if this were to happen to TransForce, which has eaten most of the industry.

    Also, our overlords are desperately trying to avoid this happening to real estate, by the way. A huge amount of that is just a debt-fuelled house of cards.