03-06-2020, 09:19 PM | #1 |
Sentient Sauce
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Barnes and Noble Wants To Be More Like An Indie Bookseller
https://www.bloomberg.com/news/featu...die-bookseller
New CEO aims to shake things up and seems to have the money backing him up. I love to see a player give competition to Amazon but also fear that they’ve burned too many bridges for this not to be another waste of money. Kudos for Elliot’s board for choosing a more interesting CEO. As the article states, choosing leaders from dying companies didn’t seem to be helping things... Last edited by Pizza_Cant_Read; 03-06-2020 at 09:34 PM. |
03-07-2020, 09:41 AM | #2 | |
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Apache |
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03-07-2020, 05:01 PM | #3 | |
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In the near term, they can try to fix the stores before IPOing the fixed company. And if they fail, they can liquidate and still come out ahead. |
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04-23-2020, 06:24 PM | #4 |
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I got this nugget from an author's newsletter today "This morning I was notified that Barnes&Noble is struggling to meet its expenses and can't make this month's royalty payments"
She's taking down her ebook preorders and pulling most of her catalog from B&N. |
04-23-2020, 07:59 PM | #5 |
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Their failure (soon to be imminent?) would make an interesting ebook. I would buy it, from Amazon or Kobo, depending on who has the better price.
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04-23-2020, 09:26 PM | #6 | |||
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https://the-digital-reader.com/2020/...oney-problems/ Quote:
And it was before the crisis led to the closures so they still had B&M revenues. https://www.smashwords.com/about/updates Quote:
Moving forward, things won't get better for march or april payments: Those 400 closed storefronts still have to pay rent. Last edited by fjtorres; 04-23-2020 at 09:32 PM. |
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04-25-2020, 06:44 PM | #7 |
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Uh oh. Thanks for the links.
Sent from my SM-G930V using Tapatalk |
04-25-2020, 08:23 PM | #8 | ||
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04-25-2020, 10:51 PM | #9 |
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Yes, the author sent out another newsletter. Apparently B&N is paying ebook royalties, it's paper book royalties they will no be able to pay in full.
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04-26-2020, 04:46 AM | #10 |
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04-26-2020, 02:05 PM | #11 |
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05-01-2020, 05:42 AM | #12 |
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05-01-2020, 01:00 PM | #13 | |
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Odds are, they were going to anyway. Those leases are the second biggest problem Daunt faces. They're moving to smaller stores and, if they can afford it, more of them. The goal is to be like a chain of independents. Which looked to be tricky but after the crisis kills off a fair amount of those it might work. |
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05-04-2020, 06:41 PM | #14 |
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Closing the store by breaking the lease is not that easy at the moment. Normally you would do that if the lease has a bailout clause. But right now there is nothing normal about the economy. The landlord could probably tell B&N that a bailout is not valid, because most everybody's retail stores are closed right now. Don't have enough money for their rent? Then they need to get a loan through the Corona Virus Relief bills. Catch 22 would be, that there is stipulations that they may have to pay back more if they fire people. So B&N cannot take advantage from the Corona virus to close stores early that they planned on closing anyway.
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05-04-2020, 07:31 PM | #15 |
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Or B&N could file for bankruptcy and the landlord would be f'd anyway.
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