Submission + - Barnes and Noble Bookstore Chain Put Up for Sale (guardian.co.uk) 1
B&N, which owns 720 high-street shops in all 50 American states, announced it was calling in the investment bank Lazard to advise on strategic alternatives including "a possible sale of the company" after a 45% slump in share price in the last year.
In common with other booksellers, B&N has struggled with changes in customers' habits. Readers are buying more books online, while digital readers such as Amazon's Kindle are rapidly becoming popular alternatives to traditional books.
The chain's founder Leonard Riggio, who started the business with a bookstore in New York's Greenwich Village in 1965, immediately declared that he was a possible buyer, sending Barnes & Noble's share price up by 25% in unofficial after-hours trading on the New York Stock Exchange.
Guardian: http://www.guardian.co.uk/books/2010/aug/04/barnes-and-noble-for-sale