So B&N are thinking about putting the company up for sale and try to go private. From the press release:
Barnes & Noble, Inc. (NYSE: BKS), the world's largest bookseller, today announced that its Board of Directors intends to evaluate strategic alternatives, including a possible sale of the company, in order to increase stockholder value. The Board came to this decision based on the price of Barnes & Noble shares in the marketplace, which the Board believes are now significantly undervalued.
There's a lot of talk about who should buy the company, and I've decided to take the radical position: no one. I think B&N should rebrand themselves as a web retailer. The income generated by the stores has gone down for the last 3 years in a row. Only the website is doing well. I think they should give up on the brick and mortar presence entirely.
What do they have to lose?