I apologize for the click-bait title. I only used it because I’m fed up with that claim, especially now that Barnes & Noble were sold on June 7 to a hedge fund after years of trouble. Everyone seems to be blaming Amazon for that, instead of placing the blame squarely where it belongs: the disastrous decisions of Barnes & Noble’s management.
But let’s take things from the start.
Barnes & Noble Troubles Ran Deeper Than the Amazon
After years of trouble, Barnes & Noble were sold to Elliot Advisors, a hedge fund. I’m mentioning the name because it matters. A lot. (more on that later).
According to the New York Times:
Barnes & Noble has been decimated by the strength of online booksellers like Amazon and struggled to make a profit. The company has closed more than 150 stores in the…
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