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Barnes & Noble has confirmed that it has completed the purchase of Tattered Cover Book Store, Denver, Colo., following a bankruptcy court judge's approval of the deal on Tuesday.
B&N said that Tattered Cover staff, "supported by the IT teams at Barnes & Noble," is now working to make a transition to new book ordering systems, which has led to shortened hours at the four stores, mostly this week, and an interruption to tatteredcover.com. (Store and e-mail systems are also being changed "in the coming weeks," according to Tattered Cover.) All four stores were closed yesterday and are closed today. In addition, the Aspen Grove store will be closed on Friday. The Colfax store will close early next Monday, August 5, and the Union Station and Stanley Marketplace stores will close early on Thursday, August 8.
B&N stated that 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."
B&N CEO James Daunt commented: "Tattered Cover today puts the challenging bankruptcy process behind it. [Tattered Cover CEO] 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 bookstores."
Dempsey said, "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. I am very grateful to the Tattered Cover employees and the loyalty of our customers. The outpouring of support has been extraordinary."