Denver's Tattered Cover Bookstore, currently in Chapter 11 bankruptcy, canceled the auction to sell the local chain to one of eight possible buyers this past Wednesday in order to continue talks with the various bidders. CEO Brad Dempsey says that "discussions are ongoing right now" and that "there are a lot of moving parts to it." I'll bet there are, considering the fact that the Tattered Cover owes almost 4 million dollars to creditors. There have been unconfirmed reports that the high bidder is Barnes and Noble, the national bookstore chain. If the stores are sold to them, it would basically mean the end of the TC. Hopefully, negotiations with the other seven bidders will result in someone with deep pockets and experience running bookstores buying the chain and keeping it independent. And by the way, I took the photograph above back when I was working as the bookkeeper for the Tattered Cover. It shows Noah, my friend and former University of Denver Bookstore colleague, reading one of his poems at Open Mic Poetry Night at the Colfax Avenue store. I am willing to bet Barnes and Noble would not have events like that if they took over the store. Not a chance. Not ever.
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