Because one of the principles of private equity is to load up a company with debt while growing the bottom line and then offloading it. When it works the banks

Because one of the principles of private equity is to load up a company with debt while growing the bottom line and then offloading it. When it works the banks profit, the company grows and everyone is happy, when it doesn't work they are vultures that made a bad situation worse. Instead of painful downsizing and adjusting to actual market demand they will keep things floating until it turns around or the company is so far gone that nobody will lend to them anymore.