Court approves Barnes & Noble’s purchase of Tattered Cover

The U.S. Bankruptcy Court has approved Barnes & Noble's acquisition of Tattered Cover, a well-known independent bookstore chain. The deal, valued at $1.83 million, will see Barnes & Noble take over Tattered Cover’s five existing locations and its inventory. Despite the acquisition, Tattered Cover will continue to operate under its original name and will retain nearly all of its current employees (PublishersWeekly.com) (Denverite) (Publishers Lunch).

Tattered Cover has faced financial difficulties in recent years, including filing for Chapter 11 bankruptcy in October and closing several locations. The acquisition by Barnes & Noble aims to stabilize the business while maintaining its independent spirit and reputation (Denverite).

James Daunt, the CEO of Barnes & Noble, has emphasized a strategy of allowing acquired bookstores to retain their unique identities while benefiting from the larger company’s resources, such as improved IT systems and logistical support. This approach has been successful in the UK, where Daunt has overseen the turnaround of several bookstore chains owned by Elliott Investment Management, the parent company of Barnes & Noble (PublishersWeekly.com).

This acquisition marks Barnes & Noble's first purchase of an independent bookstore in the U.S. and is part of its broader strategy to expand and improve its operations (PublishersWeekly.com) (Publishers Lunch).

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