The challenge facing Elliott Management to turn around Barnes & Noble was on display, with the bookstore chain reporting weaker revenue and a steeper net loss in its most recent quarter than the market had forecast. Elliott struck a deal in early June to buy the struggling retailer for $683m, including debt, a little more than a year after the activist hedge fund took over UK bookseller Waterstones.
The challenge facing Elliott Management to turn around Barnes & Noble was on display, with the bookstore chain reporting weaker revenue and a steeper net loss in its most recent quarter than the market had forecast. Elliott struck a deal in early June to buy the struggling retailer for $683m, including debt, a little more than a year after the activist hedge fund took over UK bookseller Waterstones.
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