Following their first filing for voluntary bankruptcy in mid-October, the owners of Tattered Cover filed a reorganization plan with the US Bankruptcy Court for the District of Colorado earlier this week. While the store group initially said it lost about $660,000 during the year last year and owed at least $1.375 million to publishers and Colorado’s Office of the State Auditor for abandoned gift cards, the new documents depict a more severe situation. As of the initial filing in October, they had secured debt of approximately $820,000, and unsecured claims of just over $3.2 million. In the previous year, 2022, […]
