Anybody willing to start betting? I say by the end of this quarter.
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Stores will be closed based on if they are independently profitable based on when the lease is up. BN Corporate has always liked to point out that they have flexibility because so many of there leases are up in the next 3 to 5 years. The option that would significantly speed this process is if B&N declares chapter 13 bankruptcy in order to clear out underperforming stores quickly in order to sell an reduced company quickly. The risk with bankruptcy is if the publishers don't support reorganization under Chapter 13 (what ToysRUs is going through currently) liquidation under chapter 7 can happen. Because so much of BN's inventory is on consignment from the publishers (basically everything that is returnable) the Publishers have HUGE liabilities that go way beyond typical supplier-seller relationships, if they cut off shipments, BN is dead in the water (this is basically what caused Border's to go bust).
im thinking this is lean management and they are looking for a buyer so the execs can cut a nice buyout deal.
feel terrible for the people who lost their jobs, as a former digital sales lead i saw the writing on the wall a year ago and luckily found employment elsewhere.
Hope is not lost! you will all land on your feet soon enough!
@akg Anyone who's been staying up to date on the news and stock has seen this coming for a while now. It's only a surprise to those who have been naively optimistic about the company's future. The whole thing is going down in flames.
Glad to see you are finding some enjoyment in what's happening... /sarcasm