“Owe my soul to the company store”
Buying on credit, from employer, means you will likely fall into a cycle of debt to one supplier. Limiting your ability to make purchases from other vendors.
Or to even look for work in another town/move on. Until you pay of your recurring debts, employer effectively owns you!!
Companies in say mining towns, owned or controlled every business from butcher shop, general stores, the bank etc. A monopoly.