![]() ![]() Through the ups and downs, Riggio has either maintained control or been a short distance from the controlling seat, but the Elliott sale likely commences the first truly new management era in the company’s history. Starting in the late 1990s, B&N went from corporate villain (and You’ve Got Mail foil) to struggling underdog as Amazon rode its own arc from scrappy disruptor to monopolizing force majeure. Founded in 1971, the worldwide chain enjoyed decades of dominance in the book retail market - until the internet blew up. ![]() Facing the prospect of closing down entirely, the company completed a sale to the hedge fund Elliott Management after effectively putting itself on the market last October. Last Friday, Barnes & Noble booksellers finally left its roots behind the indie bookstore–turned–publicly traded behemoth–turned-ailing albatross is no longer founder Leonard Riggio’s sickly baby. ![]()
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