Elliott Management is hiring investment bank Rothschild & Co. to advise on options for a public offering of its retail group, which could happen as early as Q2, according to Sky News. This moves a public offering one step closer from the first reports last month that an offering was under consideration (see “B&N Contemplating IPO”). The retail group includes Barnes & Noble, stationery and gift retailer Paper Source, and UK-based bookseller Waterstones.
The initial reports on a possible IPO had targeted the second half of 2026 as a likely time frame for an offering; the Sky News story indicates that now a Q2 2026 offering is possible. The hiring of Rothschild likely indicates an offering in the UK, rather than on a U.S. exchange.
Barnes & Noble opened 60 U.S. stores in 2025, bringing its total back up over 700, to 702.
Source: ICv2
