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Barnes & Noble’s Riggio Said to Offer to Buy Out Bookstore Unit

Barnes & Noble Inc.’s founder and chairman, Leonard Riggio, told the bookstore chain he is interested in buying its consumer business and spinning out the unit that makes the Nook tablet, a person familiar with the matter said.

Riggio, who still owns about 30 percent of the company’s stock, has told the board of his interest without starting a formal process yet, said the person, who asked not to be identified because the matter is private. Riggio has made a preliminary proposal and may make it more official this week, the person said.