O-M-G. Kristen Lamb informs us about the latest news: Barnes & Noble SOLD!
Thank you so much for the information, Kristen!
Goliath has fallen. The leviathan Barnes & Noble, the big-box chain that reinvented retail and defined a generation…is no more.
Reuters announced early last Friday that the hedge fund Elliot Management Corp. would be purchasing the former book giant for roughly the equivalent of Kim Kardashian’s jewelry allowance ($683 million including debt).
This bold move marks an end to the once-dominant book retailer’s status as a publicly traded company.
After almost a decade of abysmally stupid business decisions and plummeting sales—and me blogging and b#@!$ing about it the entire time—this buyout feels like a mercy killing to me.
Someone might finally save Barnes & Noble from itself.
***I secretly suspect this buyout was the only option left after Mary Kay declined to sell cosmetics alongside records, movies, toys, stationary, gifts, knick knacks, coffee, candles, essential oils and everything else NOT BOOKS.
Now that the former mega-retailer’s fate is in the hands of the Elliot Group, perhaps Barnes & Noble can go back to being a…wait for it…wait for it… *whispers*…a bookstore.