From The New York Times:
Barnes & Noble‘s chairman, Leonard Riggio, disclosed in a regulatory filing on Tuesday that he had dropped efforts to buy the company’s bookstores.
The move raises further questions about the bookseller’s future after it previously announced plans to stop making its line of Nook color tablets.
Mr. Riggio first announced plans to bid for the company’s 675 physical stores in February, in a move that would have essentially split the company in half.
. . . .
“While I reserve the right to pursue an offer in the future, I believe it is in the company’s best interests to focus on the business at hand,” Mr. Riggio said in a statement.
Mr. Riggio’s disclosure came on the same day that Barnes & Noble reported a greater-than-expected fiscal first-quarter loss.
Link to the rest at The New York Times and thanks to Abel for the tip.