In 1997, Jay crew has 48 stores. By comparison, banana Republic has 226. And they realize Arthur and Emily that if they're going to compete, they need a major infusion of capital. They coalesce around this idea of let's sell part of the company to a private equity firm That'll give Emily the big infusion of cash she needs to buy out her dad. Sounds like a win-win, right? But you're suspicious of that decision,. Well, at the time, if I was Emily, would I have hesitated to make that deal? Probably not.