Barnes & Noble Set To Be Sold To Elliott Management For About $683M

#1

Post by selimthegrim » Fri, Jun 07, 2019, 8:54 PM UTC

Barnes & Noble Set To Be Sold To Elliott Management For About $683M
npr.org

Re: Barnes & Noble Set To Be Sold To Elliott Management For About $683M

#2

Post by vikramkr » Fri, Jun 07, 2019, 9:17 PM UTC

I really hope I don't read any articles a few years from now about Barnes and Noble filing for bankruptcy after being crushed by the immense debt of a leveraged buyout...

Re: Barnes & Noble Set To Be Sold To Elliott Management For About $683M

#3

Post by mtgx » Fri, Jun 07, 2019, 9:22 PM UTC

In other words, B&N is to be dismantled and sold for parts in the near future.

Re: Barnes & Noble Set To Be Sold To Elliott Management For About $683M

#4

Post by kurthr » Fri, Jun 07, 2019, 9:24 PM UTC

vikramkr wrote: post #2

I really hope I don't read any articles a few years from now about Barnes and Noble filing for bankruptcy after being crushed by the immense debt of a leveraged buyout...

Alternately, figure out where they will be selling real estate and how to make money on that... lots of it will be in California and NY?

Re: Barnes & Noble Set To Be Sold To Elliott Management For About $683M

#5

Post by dr_orpheus » Fri, Jun 07, 2019, 9:25 PM UTC

vikramkr wrote: post #2

I really hope I don't read any articles a few years from now about Barnes and Noble filing for bankruptcy after being crushed by the immense debt of a leveraged buyout...

Agreed, my first thought when I saw this was of the Toys 'R Us filing for bankruptcy some years after the leveraged buyout in 2005.

Re: Barnes & Noble Set To Be Sold To Elliott Management For About $683M

#6

Post by lalaithion » Fri, Jun 07, 2019, 9:25 PM UTC

vikramkr wrote: post #2

I really hope I don't read any articles a few years from now about Barnes and Noble filing for bankruptcy after being crushed by the immense debt of a leveraged buyout...

The story reports that the same company recently bought a British bookseller, and managed to turn a company with losses into a company with profits, so hopefully they can do they same with Barnes and Noble.

Re: Barnes & Noble Set To Be Sold To Elliott Management For About $683M

#7

Post by whalesalad » Fri, Jun 07, 2019, 9:29 PM UTC

TIL Barnes and Noble still exists. I haven't seen one in what feels like a decade.

Re: Barnes & Noble Set To Be Sold To Elliott Management For About $683M

#8

Post by bytematic » Fri, Jun 07, 2019, 9:29 PM UTC

Well Elliott is a vulture fund so we all know where this is going

Re: Barnes & Noble Set To Be Sold To Elliott Management For About $683M

#9

Post by devoply » Fri, Jun 07, 2019, 9:33 PM UTC

vikramkr wrote: post #2

I really hope I don't read any articles a few years from now about Barnes and Noble filing for bankruptcy after being crushed by the immense debt of a leveraged buyout...

Yeah bleed the piggy... then declare bankruptcy.

Re: Barnes & Noble Set To Be Sold To Elliott Management For About $683M

#10

Post by MR4D » Fri, Jun 07, 2019, 9:33 PM UTC

Thank god. Their website is so bad that it’s almost like they are trying not to sells books.

Last week I had a gift card for BN that I needed to use, and tried to buy an audiobook on bn.com from my iPhone. It was damn near impossible to find anything and I still don’t know how to search for an audiobook.

Such a shame, as I used to love their physical stores.

Hopefully these folks will do a much better job.