James Daunt, CEO of Barnes & Noble said, “This is a very good day for bookselling. Elliott will own both Barnes & Noble and Waterstones and, while each bookseller will operate independently, James Daunt will serve as CEO of both companies and relocate from London to New York. Elliott seeks to build upon this strong foundation as it addresses the significant challenges facing the bricks and mortar book retail space in the United States, applying a model that successfully turned around Waterstones over the past decade. Today, Barnes and Noble has officially announced they have been fully acquired by Elliott, the same Hedge Fund that owns the largest bookseller in the UK, Waterstones.īarnes & Noble serves 627 different communities across all 50 states, where it remains the #1 bookseller in the United States. The bookseller formed a committee to explore selling the company and it has paid off. The company has had 5 different CEO’s in the past 7 years and various turnaround strategies have all failed. Barnes and Noble has been in trouble for a very long time.
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