Thread regarding Follett layoffs

Follett is for sale

https://nypost.com/2021/08/19/fanatics-lids-raise-stakes-in-barnes-noble-college-bookstores/

“ The loss of the Fighting Irish — which outsells every other college and university in merchandise — was a blow to Follett Corp., which also provides educational products to grade school children and libraries.

The $3.1 billion company has been quietly shopping itself and retained investment bank Morgan Stanley earlier this year to lead the process, according to a source with knowledge of the situation.

The company did not immediately return calls for comment.”

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| 9403 views | | 58 replies (last September 7, 2021) | Reply
Post ID: @OP+1cwScGaA

58 replies (most recent on top)

Until someone from Follett officially confirms it, it's just rumor. Plus, as we all know from our declining text sales, something being for sale and something actually selling are two very different things.

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Post ID: @3ccm+1cwScGaA

Is this true that follet is for sale

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Post ID: @3drz+1cwScGaA

Doesn’t really surprise me. Should be getting a call about another opportunity today. Hoping and praying it’s an offer.

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Post ID: @1yxn+1cwScGaA

Woodridge warehouse is floor to ceiling, front to back, loaded with used and outdated books. The money being wasted in operating that eyesore has to be enormous.

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Post ID: @1hml+1cwScGaA

If there is a buyer one would hope that they would do their due diligence and not let the family sc--w them too.

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Post ID: @1xqj+1cwScGaA

One thing is for sure, whoever buys us will be impressed with the gargantuan amount of dead books we’ve been holding in our stores for years because we couldn’t competently manage our business and lost our own warehouse. It’s like the Santa Claus for Markdowns!

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Post ID: @1wjp+1cwScGaA

What happens if a private equity company buys us?

Thoughts?

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Post ID: @1uat+1cwScGaA

I heard Amazon was buying Follett

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Post ID: @1fby+1cwScGaA

Is anyone surprised?

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Post ID: @1ftt+1cwScGaA

This is no surprise. So many of us have been expecting this for quite some time.

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Post ID: @1boq+1cwScGaA

Anyone else wondering when the "this company is strong, you can leave whenever you like" person is gonna chime in and spin this one.

Seriously, peeps still there, good luck!

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Post ID: @1lfr+1cwScGaA

Who’s the lucky company buying us? Fanatics?

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Post ID: @1tzv+1cwScGaA

It will be interesting how the braintrust at the HO spins this one. After all, they were (characteristically) congratulating themselves for some “initiatives” this year. I hope everyone reading this is making plans to exit to another job. You’ll need them.

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Post ID: @hly+1cwScGaA

Is something happening 9/1 as a previous poster said? How do you know? Is it ever good when a failing company is sold? Me thinks not!

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Post ID: @oxh+1cwScGaA

True, would explain why no CEO.

Of course the family still owns Baker & Taylor which they can drive into the ground to make the stock worth more...

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Post ID: @rzv+1cwScGaA

If anyone is surprised by this, they were not paying attention.

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Post ID: @jww+1cwScGaA

It’s true! 9/1

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Post ID: @gjw+1cwScGaA

Why on earth would anyone wanna buy us, though?

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Post ID: @upp+1cwScGaA

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