If you live in and around Denver, Colorado, then you are likely familiar with Tattered Cover Bookstores. The small, independent bookstore chain is 53-years-old and operates four locations in the Denver area. And now it is no longer quite as independent as it once was.
According to Publisher's Weekly, it seems that the Tattered Cover Bookstores have all been purchased by Barnes & Noble. And with a price tag of over $1.8 million, it was quite an investment on the larger bookstore's part. The report about this news revealed that, "Tattered Cover will keep its name and branding, and B&N anticipates that it will retain a majority of the 70 people currently employed at the four locations."
Tattered Cover may now be part of the Barnes & Noble family, but what does this mean for the chain that once hosted a Days of Our Lives signing, was known for their strong advocacy of First Amendment rights, and received multiple awards? Will the stores be able to retain what made them special to begin with? Or will they operate like smaller versions of Barnes & Noble locations?
What does the future hold for Tattered Cover Bookstores and other independent bookstores?
While the name may be the same, it sounds like things will definitely be changing, especially when we look at the statement from Brad Dempsey, the interim CEO of Tattered Cover, who shared his thoughts on the Barnes & Noble news. According to Dempsey, "This creates the nation's first true hybrid bookstore, a bold and sustainable response to a marketplace that is dramatically different from when Joyce Meskis operated Tattered Cover for so many decades."
Honestly, I can appreciate the fact that Barnes & Noble is allowing the Tattered Cover to live on. But at the same time, it is sad to see another independent bookstore or small bookstore chain going under. The fact that they have been saved, is good news, but it is also a reminder of just how hard the bookselling industry can be.
With Amazon as competition, smaller bookstores struggle to stay afloat in a world where Amazon can undercut prices and make it easy for people to stay home and shop. The reality is that Barnes & Noble is perhaps the only bookseller that has a real chance of competing with Amazon on a large scale and if they are willing to help save independent bookstores from outright closing, then it may be worth it in the long run if we want any hope of seeing any bookstores remaining in business long term.
It is sad to see Tattered Cover Bookstores being bought out by Barnes & Noble, but at the same time, at least those stores are staying open.
What do you think of the news that another independent bookstore chain has been bought out? Are you surprised by this news? Do you think this is good news in the long run?