NEW YORK — Leonard Riggio, founder of the modern Barnes &Noble, disclosed in a regulatory filing Monday that he wants to acquire the company’s stores and website, but not the business that makes the Nook e-reader or the company’s college bookstores. No price was disclosed.
It’s the latest attempt by a company founder to take back control of all or part of a company he started. Best Buy’s co-founder Richard Schulze is mulling a bid for the electronics retailer, and Michael Dell earlier this month announced a $24.4 billion deal to take the namesake computer company he founded private.
The deals are a way for executives to exert more control over companies without the need to run everything by shareholders. In all of these cases, the founders have devoted decades to the businesses, and the companies are struggling to survive in a changing retail landscape.
Barnes &Noble, based in New York, has been struggling to find its place as more readers have shifted to electronic books and competition has grown from discount stores and online competitors.