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Riggio suspends plan to make offer for Barnes & Noble stores

Customers enter a Barnes and Noble store in New York June 25, 2013. REUTERS/Brendan McDermid
Customers enter a Barnes and Noble store in New York June 25, 2013. REUTERS/Brendan McDermid

(Reuters) - Barnes & Noble Inc's chairman, founder and top shareholder Leonard Riggio said on Tuesday he has suspended his efforts to make an offer for the company's retail business.

"While I reserve the right to pursue an offer in the future, I believe it is in the company's best interests to focus on the business at hand," Riggio said in a statement filed with the U.S. Securities and Exchange Commission. "Right now our priority should be to serve the more than 10 million customers who own NOOK devices, to concentrate on building our Retail business, and to accelerate the sale of NOOK products in our stores, and in the marketplace."

(Reporting by Jessica Wohl in Chicago; Editing by Gerald E. McCormick)

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