While I'm sure that debt plays a large part in this, it is also a state of the times that bankruptcy is now a corporate financial strategy, as Donald Trump illustrated in his recent interview with George Stephanopoulos in The New American publication:
"....Trump told George Stephanopoulos last Friday, "I’ve used the laws of this country to pare debt…. We’ll have the company… we’ll throw it into a chapter [11 bankruptcy]. We’ll negotiate with the banks. We’ll make a fantastic deal. You know, it’s like on The Apprentice: It’s not personal. It’s just business."
Mr. Trump has been involved in at least 4 business bankrupts, so I guess he could be considered on the leading edge of this business paradigm shift, lol!