New York – Barnes & Noble’s board of directors is
contemplating selling the
, the company reported.
Four directors begin evaluating the possibility immediately. The
move is designed to take advantage of the company’s current low share price and
to boost shareholder value. One of the first names mentioned as a potential
buyer was Leonard Riggio, the chain’s founder and largest stockholder.
“The board has concluded that a review of strategic alternatives
is the appropriate next step to take full advantage of our compelling digital
opportunities and to create value for shareholders, customers and employees,”
the company said in a written statement.
Riggio said he supports the board’s decision and is committed to
the future of Barnes & Noble.
No timetable for selling the company is set.