The last remaining national bookstore chain is being taken off the shelf and dusted off for sale.
Barnes & Noble’s founder Leonard Riggio disclosed in a regulatory filing Monday that he wants to acquire the company’s stores and website, but not the business that makes the Nook e-reader or the company’s college bookstores. No price was disclosed.
Barnes & Noble, based in New York, has been struggling to find its place as more readers have shifted to electronic books and competition has grown from discount stores and online competitors. The company, which has 689 bookstores in 50 states and 674 college bookstores, has been trying to avoid the fate of its former rival Borders Group, which did not adapt to the growing threat of the Internet and e-books and went out of business in 2011.
Do you think retail bookstores are doomed to failure with the exploding popularity of e-book readers and the Internet?