Goliath has fallen. The leviathan Barnes & Noble, the big-box chain that reinvented retail and defined a generation…is no more.
Reuters announced early last Friday that the hedge fund Elliot Management Corp. would be purchasing the former book giant for roughly the equivalent of Kim Kardashian's jewelry allowance ($683 million including debt).
This bold move marks an end to the once-dominant book retailer's status as a publicly traded company.
After almost a decade of abysmally stupid business decisions and plummeting sales—and me blogging and b#@!$ing about it the entire time—this buyout feels like a mercy killing to me.
Someone might finally save Barnes & Noble from itself.