Report: Barnes & Noble Chairman Seeks to Buy Retail Stores
Leonard Riggio has made a bid for the store's retail assets, including locations close to Potomac.
Barnes & Noble Inc. Chairman Leonard Riggio is seeking to buy the bookselling giant's retail assets, CNN Money reported.
According to the report, the bookstores have struggled as the popularity of e-readers increases. Holiday sales at the company's bookstores and websites dropped nearly 11 percent last year, according to the report.
Barnes & Noble said it has put together an independent committee to review the proposal and to oversee any negotiations, The Los Angeles Times reported.
The company in January said it would close some of its retail stores over the next 10 years, though a spokeswoman told Patch that there were no plans to close the Bethesda location.