Denver’s iconic indie bookstore, Tattered Cover, may be starting its final chapter.
Driving the news: The bookstore filed for Chapter 11 bankruptcy protection, it said in a statement released Monday.
- It will try to reorganize to remain in business during the process.
Why it matters: It’s a dark turn for a beloved shop that’s captivated Denverites since opening its first location in the city’s Cherry Creek neighborhood in 1971, becoming one of the most successful indie bookstores in the country and destination for bookworms everywhere.
What they’re saying: “Our objective is to put Tattered Cover on a smaller, more modern and financially sustainable platform that will ensure our ability to serve Colorado readers for many more decades,” Tattered Cover CEO Brad Dempsey, a bankruptcy attorney, said in a statement.
State of play: The filing means three of its seven stores will close by November. The impacted stores are inside McGregor Square near Coors Field in Denver, Colorado Springs and Westminster.
27 of the bookstore’s 103 positions will be eliminated.
Big big fan of the Tattered Cover. Can’t be easy being a brick and mortar bookstore these days.