Barnes & Noble Education enters pact with stakeholders, continues review

Barnes & Noble Education, or BNED, has entered into an agreement with its financial stakeholders and strategic partners on the terms of a refinancing that the company said would “immediately strengthen” the its liquidity and overall financial positions by extending the maturity of its debt facilities, amending certain credit facility covenants and modifying certain other agreements. With this agreement, the company will continue supporting academic institutions and customers nationwide through the upcoming fall rush. As part of the agreement, BNED is establishing a committee of the board of directors to continue the ongoing review of a broad range of strategic alternatives available to thecCompany, including but not limited to potential capital raises, asset divestitures or a sale of the business as well as pursuing its standalone growth plans. Additional details of the terms of the agreement will be filed with the company’s Form 10-K for the period ended April 29 in the coming days.