``Six years after TPG Capital LP and Leonard Green & Partners L.P. acquired J. Crew for $2.8 billion and took it private, the retailer looks to be the latest in a string of retailers whose turnaround capital needs bump up against the profit-taking goals of private equity owners... Blame the dismal fates of bankrupt apparel retailers... on the debt loads heaped upon them by their respective private equity owners, observers told Retail Dive. "These poor apparel chains end up one way or another in the hands of private equity -- and in the end, there's no company, no stores, no employees, and the private equity made money," Howard Davidowitz, chairman of New York City-based retail consulting and investment banking firm Davidowitz & Associates, told Retail Dive earlier this year. "Congratulations. That's how it works."''

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