Barnes and Noble Up for Sale

Barnes & Noble put itself up for sale today, amid concern from shareholders over “how digital books are eroding the traditional business.” According to the Journal:

New York-based Barnes & Noble said a falling stock prompted its board to consider all “strategic alternatives, including a possible sale of the company.”

At the same time, the company said Leonard Riggio, its founder and chairman, is contemplating the possibility of forming an investor group to buy the company.

Barnes & Noble has 720 stores as well as 637 college bookstores, and is the country’s largest chain bookseller.