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In mid-June, we wrote about how the Tattered Cover bookstore had filed for bankruptcy, and how it had accepted Barnes & Noble’s offer of $1.83 million.
On July 30th, the federal bankruptcy court the sale was waiting on approved Barnes & Noble’s acquisition of the indie bookstore, which includes four stores in Denver. Tattered Cover will be allowed to keep its name, branding, and its nearly 70 employees in the transition.
Barnes & Noble CEO James Daunt stated that the bookstore would be ran by its own store managers, telling the Denver Gazette, “We just have to rebuild Tattered Cover to be a great bookstore. They will be doing it, not us.”
To read more about Barnes & Noble’s latest acquisition, visit Publishers Weekly or the Denver Gazette.
Find more news and stories of interest from the book world in Breaking in Books.