Adding ["B&N" AND "closing"] to my Google Alerts last year has produced a fascinating picture. This has always been a tale of leases. One of the key reasons Borders imploded was that many of their long term leases weren't going to come due for 5 years plus. B&N was in a better position. Many of theirs were terminating earlier. I'd assumed this meant that they would use this added leverage to renegotiate many of them at lower rates, but that was before this holiday season's shockingly bad results. Now we're seeing more and more straight-up closures.
It is important to note that the Nook division of B&N is behind a legal firewall. If B&N implodes, Nook Media LLC will float off into the sunset with that 300 million dollar cash infusion Microsoft gave them. The employees left behind won't be as lucky. And we're talking well over thirty thousand people here.
Sad news all around.
B.
It is important to note that the Nook division of B&N is behind a legal firewall. If B&N implodes, Nook Media LLC will float off into the sunset with that 300 million dollar cash infusion Microsoft gave them. The employees left behind won't be as lucky. And we're talking well over thirty thousand people here.
Sad news all around.
B.