Barnes & Noble Chief Executive James Daunt is implementing cost-cutting measures at the bookstore chain as the company considers a potential initial public offering.

Daunt, who previously led the British bookstore chain Waterstones, has taken what sources describe as an unsentimental approach to managing the business operations.

The restructuring efforts focus on reducing operational expenses across the company's retail locations. Specific details about the nature and scope of the cost-cutting measures have not been disclosed.

Barnes & Noble, once the dominant bookstore chain in the United States, has faced significant challenges from online retailers and changing consumer reading habits in recent years.

The potential IPO would mark a return to public markets for the company, though no timeline or specific plans have been announced. The bookstore chain was previously taken private in 2019.