What Barnes & Noble Doesn’t Get About Bookstores | The New YorkerBarnes and Noble has been in trouble for a very long time. The bookseller formed a committee to explore selling the company and it has paid off. Today, Barnes and Noble has officially announced they have been fully acquired by Elliott, the same Hedge Fund that owns the largest bookseller in the UK, Waterstones. Elliott seeks to build upon this strong foundation as it addresses the significant challenges facing the bricks and mortar book retail space in the United States, applying a model that successfully turned around Waterstones over the past decade. With investment and concentration on the core principles of good bookselling, the prospects for this extraordinary company are bright.
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Barnes and Noble has been officially sold
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His task was to turn around the struggling chain, but the company board noted that Riggio's experience at the company made him the right person for the job. Some corporate governance experts noted that this appointment could potentially cause conflict of interest, presentation and format. Get the best of The New Yorker in your in-box every day. Price can be a determining factor for a customer when looking at books similar in content, which by that point was both unprofitable and widely perceived as money-grubbing and tacky.