For some venture capitalists, we’re approaching a night of the living dead. Startup investors are increasingly warning of an apocalyptic scenario in the VC world — namely, the emergence of “zombie” VC firms that are struggling to raise their next fund.
Link: https://www.cnbc.com/2023/02/16/rise-of-zombie-vcs-haunts-tech-investors-as-startup-valuations-plunge.html
Apparently some of the big banks are also hurting from funding retail PE deals and then not being able to sell off the debt after the deal has been done.
See this explainer video from UK Financial Times New paper on the Morisson’s supermarket buyout by CD&R funded in part by Goldman Sachs
And also this on Morrisons
What do the private equity owners gain in a scenario like this? I thought private equity was about profitability 
Asset stripping: Sales & leaseback and special dividend is the concern–Morrisons owns a lot of their estate and land is crazy expensive across the UK. Which is what happened to Debenhams department store, BHS department store, and Arcadia group (Topshop).
Similar to what may happen to Albertsons if the merger with Kroger goes ahead
This makes sense – the company was not bought as a “going concern” - it was bought for one or more valuable assets… like people gutting an old house in the middle of town in a suddenly expensive neighborhood