The retailer said last year it was exploring a sale after having received 'expressions of interest' from 'multiple parties,' including its Chairman Leonard Riggio, who founded the company in 1965.
Barnes & Noble shares were briefly halted on the news, and surged more than 19% when trading resumed.it was exploring a sale after having received "expressions of interest" from "multiple parties," including its chairman, Leonard Riggio, who founded the company in 1965.and independent booksellers. Its shares have fallen roughly 25% year-to-date, giving it a market capitalization of $336 million.
Part of the bookseller's turnaround plan has included closing some of its more than 600 stores across the U.S. and relocating to smaller spaces that receive a fresh and modern look. The company has said its prototype stores encourage shoppers to buy books online or from a tablet.This is breaking news, please check back for updates
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