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Barnes and Noble Can't Find a Buyer

• slatest.slate.com
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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