Losses widen as Barnes and Nobel chairman drops plans to buy retail assets

WASHINGTON – Leonard Riggio, chairman and biggest shareholder in Barnes and Nobel has withdrawn his bid for the retail business after six months as the biggest US retail bookseller reported a widened first quarter loss of $87 million. Riggio, who has expressed interest in February to acquire BN.com and the company’s 700 retail stores, advised the company’s board this week that he was pulling …

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