The ABA announced their annual membership data, adding 248 members over the last year. The organization now counts 2,433 bookstore members, operating in 2,844 locations. The organization indicated that “around 190 more stores are in the process of opening over the next two years,” the AP reports. As the AP explains, however, “new stores” includes pop-ups and online-only stores. ABA ceo Allison Hill also balances the increase in members against the challenges that stores continue to face: “Independent bookselling has never been dependably profitable, and Hill notes various concerns — rising costs, dwindling aid from the pandemic and the ongoing […]
Bookstores
Tattered Cover Sets June Auction
Bids to acquire the bankrupt Tattered Cover bookstores are due by end of day June 10, and if there are multiple bids an auction will be conducted on June 12, according to an order approved by the Bankruptcy Court. In a filing with the court, the store said they have received signed NDAs from eight interested potential bidders so far. They are hopeful that “various other parties who have expressed interest in participating in the sale” will also execute NDAs. Ever optimistic, they also tell the court, “Debtor’s management has also been discussing the sale process with the notable authors, […]
Amazon Announces New Book Sale
Amazon is lauching a book sale that will run May 15-20 coinciding with the beginning of summer reading. Deals will include “up to 50% off print best sellers and up to 80% off eBooks” as well as special offers on trending TikTok titles.
Tattered Cover Hopes For New Owner by July
The owners of Tattered Cover filed another amended reorganization plan with the bankruptcy court on Friday, affirming that the new “plan requires debtor to sell all or substantially all of its assets.” CEO Brad Dempsey tells the Denver Post they have a number of prospective buyers for the bookseller: “I’m very comfortable that we have really solid interest in this and it ranges from individuals to corporate entities that I think do have the wherewithal.” Dempsey adds, “Right now our projection is that we would try to have final bids in by the end of May, the auction by the first […]
Tattered Cover Tells Bankruptcy Court It’s In Sale Discussions
The board of the owner of the Tattered Cover Book Store, currently in bankruptcy reorganization, announced a decision that “positioning Tattered Cover for sale to a qualified, committed new owner is in the best long-term interests of the company, current investors, employees, suppliers and Colorado’s literary community.” The word “positioning” is quite intentional. They say “the company is in discussions with individuals and businesses across the US” but the press release and a motion with the court to delay their next bankruptcy hearing is designed to elicit “additional interest from other potential buyers as word spreads that Colorado’s iconic independent […]
Vroman’s to Close Hastings Ranch Location
Vroman’s Bookstore announced on social media that it will close its Hastings Ranch location in Pasadena, CA on May 12. The company has been in lease negotiations with the building owner since January, when owner Joel Sheldon announced his retirement and sale of the business. “We are disappointed to share with you that we were unable to reach an agreement with the property owner of Hastings Ranch that was sustainable, due to increasing occupancy expenses,” the store wrote on Twitter. They indicate that 12 employees are impacted by the change, and that they will “do everything we can to support […]