"We can't comment further on Len Riggio's plan to make a proposal to purchase the retail business other than to confirm ongoing discussions between Len and the strategic committee of the board, " Lynch said Thursday.

WSJ: Barnes & Noble posts 3Q loss as Nook demand slows

Len W. Critcher , 28, is a used-car dealer who doesn't have to buy balloons.

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"At this point, if it doesn't improve significantly by June or July, we may see this become a critical problem, " says Len Jelinek, an analyst with San Jose, Calif.

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