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October 16, 2023By Michael Cader

Tattered Cover Files for Voluntary Bankruptcy; Will Close Three Stores and Eliminate at Least 27 Jobs

October 16, 2023By Michael Cader

After lengthy financial struggles that were often referred to but rarely made plain, the Tattered Cover Book Store’s corporate owner filed a voluntary petition for reorganization under Chapter 11’s streamlined Subchapter V in the US Bankruptcy Court for the District of Colorado. If approved by the court, the bookstore will be able to access up to $1 million in debtor-in-possession financing, “provided by a newly created entity” formed by current investors and board members Leslie Rainbolt and Margie Gart. Immediate restructuring plans include closing three of their seven stores — recently-opened locations in Denver’s McGregor Square, Westminster and Colorado Springs […]

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Filed Under: Bookstores

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