Barnes & Noble’s financial situation looks pretty bleak after their third quarter results. The well-known books and music retailer reported a bigger loss compared to the same time last year. One of the biggest worries is that their long-term debt has tripled in just a year, now standing at a massive $192 million. Their cash reserves have also dropped significantly, going from $32 million to only $13.4 million over the past year. Despite their efforts to compete with Amazon, Barnes & Noble hasn’t made much headway. This is evident in the 22% drop in online sales in the latest quarter, which came after they launched a new but flawed website.