Barnes & Noble isn’t doing well financially, as seen in their third-quarter results. The popular books and music retailer had higher losses compared to the previous year. A major issue is that their long-term debt has tripled over the past year, reaching an alarming $192 million. Additionally, their cash reserves have significantly decreased from $32 million to just $13.4 million within a year. Despite trying hard to compete with Amazon, Barnes & Noble has had little success. For instance, their online sales dropped by 22% in the most recent quarter, following the launch of a new but faulty website.