By Dean Seal
Barnes & Noble Education has reached an agreement with financial stakeholders and strategic partners for a refinancing that would strengthen its liquidity position and extend the maturity of its debt facilities.
The school-bookstore operator said Friday that as part of the agreement it will establish a board committee to continue reviewing strategic alternatives, including a potential capital raise or sale.
“With this agreement, the company is well-positioned to continue supporting academic institutions and customers nationwide through the upcoming Fall Rush and beyond,” the company said.
The Basking Ridge, N.J.-based company warned earlier this month that its long-term viability could be in jeopardy if it doesn’t improve its liquidity position.
Shares rose 10% to $1.38 in after-hours trading.
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