Barnes & Noble began seeking buyers in August, but has yet to seal the deal. According to Reuters, the company stock price hit a two-and-a-half year low at the beginning of this week.
Chairman Leonard Riggio has said in the past that he would consider assembling an investment team to buy the company. In the article, retail analyst Mike Souers speculated that this kind of private takeover might be the only buying option.
Earlier this year, the bookseller suspended its quarterly dividend payments and made staff lay-offs. Last September, the company survived a courtroom board battle.
The company’s trump card is its eReader, the Nook. Even though a majority of the business is conducted through its 705 brick and mortar stores, the Nook has seen major growth.
Research analyst Peter Wahlstrom had this quote in the article: “It’s not only ‘how do you compete with iPad 2’ on the digital side, but does the bricks and mortar have enough legs to support the growth of the digital platform.”