After going on the auction block months ago, book chain Barnes and Noble
is expected to step down without finding any potential buyers. Despite
initially having at least seven potential buyers, interested parties
backed off after learning how long it would take the company to shift
focus to digital sales. The company has already ceded profits by
investing in an e-reader, Bloomberg says, and recently launched a digital library to make up the losses.
Borders, the bookseller's closest rival, filed for bankruptcy earlier
this year. Barnes and Noble representatives say that the auction will
continue for a few more weeks, but they aren't optimistic about any dark
horse buyers turning up.
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