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Apax Partners
“Three bankruptcies for Rue21, revolving-door childcare ownership — Apax's consumer track record reads like a warning label.”
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London-based Apax Partners left Rue21 with nearly $1 billion in debt after buying it in 2013. The teen fashion chain went through three separate bankruptcies, the last one liquidating all 540 stores in 2024. Apax also owns Cadence Education, a childcare chain where teachers went on strike over stagnant $16/hour wages while tuition increased every six months. From teen fashion to toddler care, the pattern holds: extract value, underinvest in people.
Founded 1969 · London, UK