Comment by jonhohle

Did you read the article? The mismanagement was the supplier buying the purchaser with the most negotiating power and bankrupt them (by extracting as much equity as possible). This leaves purchasers with less negotiating power and the ability to raise prices. It was intentional.

While I can’t vouch for the accuracy of the strategy, the comparison with there health industry jives with my own experiences. Insurance companies buying up hospital chains to compete against pharma and gutting them in the process. When it’s hospitals shutting down instead of Red Lobster maybe people will understand.