This could be a double whammy.

I just saw that retail sales in the US fell for the third month in a row.

High debt load, slowing sales, possible slowing economy....

This might not end so well..

Nevertheless, the run from 2009 was debt fueled anyway. Central banks eased like never before. Keeping interest rates low allowed companies to load up on debt instead of using their cash. Many are looking good since servicing the debt with their cash reserves is no problem.

Retail tends not to be one that looks so good.