Thanks for tracing through the web of private equity in this one. Another thing that bugs me about the reporting of this story is that the math doesn't add up: a company with supposedly $2.6 billion in revenue last year (according to zippier.com) is forced to declare bankruptcy over a promotion that lost $11 million - that's less than one half of one percent of its annual revenue. By comparison, if I earned $100K a year and woke up one day to find my bank account was overdrawn by $500, I'd be laughed out of bankruptcy court if I tried that.