Bookstores

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 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 […]

After filing for bankruptcy in October, closing three of their seven stores, and laying off approximately 25 employees, Tattered Cover Book Store has updated its reorganization plan. The company hopes to emerge from bankruptcy by June 2024, and return to profitability in 2025 “by reducing costs and improving operations,” the Denver Gazette reports. That work is ongoing, however, since an earlier filing indicated the company lost approximately $340,000 in January due to costs from the holiday season and it was expecting to record additional losses in February. “Without a doubt we still have complicated negotiations to complete, challenging local economic […]

The Book Industry Charitable Foundation has selected its first cohort to participate in its BincTank incubator pilot program, which supports current or planned BIPOC-owned retail bookselling businesses within communities. Pam French, executive director of BINC, said in a released, “We are so proud to support this first group of entrepreneurs dedicated to opening bookstores in their community. They share our commitment to and passion for closing the diversity gap in bookstore ownership, and we can’t wait to visit their stores.” Selected booksellers include: Courtney Bledsoe, who plans to open a Black woman-owned bookstore in Chicago. Aysia Brown, who recently opened […]

NYC bookstore Yu and Me celebrated its grand re-opening on Sunday, after being shut down by a fire in the building in July. Located in Chinatown, it is the city’s first Asian-American female-owned bookstore-cafe-bar. A GoFundMe that raised $350,000 to help with the repairs. Owner Lucy Yu said, “It’s pretty overwhelming. I’m joyful, but I don’t know, reflective. It’s just really good to be back home.”