Can James Daunt Save Barnes Noble from Oblivion?

U.K.-based hedge fund Elliott Advisors announced earlier this month that it will acquire the company in an all-cash transaction valued at $683 million, including debt. Industry reaction Whether a turnaround is possible will be largely dependent on the financial structure and debt obligations that wi...

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Bibliographic Details
Published in:	National Real Estate Investor 2019-06
Main Author:	Wolf, Liz
Format:	Article
Language:	eng
Subjects:	Bookstores Cash transactions Chain stores Consultants (Persons) E-books Electronic book readers Hedge funds New store openings Operating companies Retail stores Retail trade Sales Turnaround management
Online Access:	Get full text
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Summary:	U.K.-based hedge fund Elliott Advisors announced earlier this month that it will acquire the company in an all-cash transaction valued at $683 million, including debt. Industry reaction Whether a turnaround is possible will be largely dependent on the financial structure and debt obligations that will be placed on the operating company, says Rachel Elias Wein, president of WeinPlus, a St. Petersburg, Fla.-based strategy and management consulting firm. “When we look at the retailers that have suffered the most in recent years, it's been those companies that have been saddled with debt well beyond management's ability to make cuts in the operating company,” she notes, pointing to Payless Shoe Source, Gymboree, Shopko and Toys “R” Us as examples.
ISSN:	0027-9994