Barnes & Noble Confirms Acquisition of Tattered Cover, Denver’s Revered Book Store07/31/2024

New York, NY - July 31, 2024 - Barnes & Noble confirmed today that it has finalized the acquisition of Tattered Cover Book Store, the revered Denver bookseller. The deal has been approved by the U.S. Bankruptcy Court for the District of Colorado.

Booksellers at Tattered Cover, supported by the IT teams at Barnes & Noble, are working this week to transition to new systems to allow the ordering of books for the stores. Some of this transition may briefly affect store hours and service, and there will be a period of interruption online to tatteredcover.com.

"Tattered Cover today puts the challenging bankruptcy process behind it," said James Daunt, CEO of Barnes & Noble. "Brad Dempsey has guided the company expertly through the Court process, and we are very grateful to him, as also to the store teams for their steadfast application to running the stores through this period of uncertainty. The Tattered Cover store managers, supported by their booksellers, now begin the rebuilding of these wonderful book stores."

Tattered Cover is to be run independently by its own store managers, maintaining its distinct identity. No stores are to close and all existing commitments, including the Friends of Tattered Cover benefits and Tattered Cover gift cards, will be honored.

"I am very pleased that Tattered Cover emerges from bankruptcy fully supported and recapitalized, preserving its unique identity and able now to rebuild its reputation for bookselling excellence," said Brad Dempsey, CEO of Tattered Cover Book Store. "I am very grateful to the Tattered Cover employees and the loyalty of our customers. The outpouring of support has been extraordinary."

Barnes & Noble had its own difficulties leading up to its being taken private in September 2019, when James Daunt was appointed CEO. A bookseller for over 30 years, and founder of his own independent book store, Mr. Daunt embarked on a strategy to devolve responsibility to each individual Barnes & Noble store, stripping away corporate direction. The strategy has been extremely successful. After well over a decade of declining sales and declining store numbers, Barnes & Noble is growing fast again and will open over 50 new stores in 2024. The bookseller has 15 bookstores in Colorado.

Tattered Cover book stores are located at Colfax, Aspen Grove and Union Station, in addition to a popular children's book store at Stanley Marketplace. Tattered Cover's three licensed stores will continue to serve customers at each concourse of Denver International Airport.

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