Debt/Equity

Like this stock and thinking of entering, but can't quite come to grips with D/E of around 170%, which seems very high.
I realise it is related to the inventory/stock they hold and underlying D/E would be a lot lower.
My questions are - do they own the stock in the warehouse or is it on a commission basis?
In the event of a downturn in the economy, loss of major supplier contract, or adverse currency move, would DDR suffer greatly?
I am encouraged with the apparent knowledge by posters on this site.
Thanks in advance
Riv