WordsWorth in Bankruptcy Filing Cambridge’s renowned independent store WordsWorth Books filed for Chapter 11 bankruptcy protection yesterday. Owners Hillel Stavis and his wife Donna Friedman tell the Boston Globe that revenues have plunged, and the store has been losing money for two years. Court filings indicate the store has $1.5 million in debts, and $1 million in inventory and assets. The owners have “poured $500,000 of their personal savings into WordsWorth in recent years.” Annual revenue of about $5 million is half of what the operation did in “better times.” They once had as many as 110 employees, but now […]
