DENVER — The parent company of Tattered Cover had an auction scheduled for Wednesday to find a new owner for Denver’s beloved independent bookstore — but that won't happen.
The board of Bended Pages LLC met on Tuesday morning and decided to cancel the auction Wednesday to allow more time to discuss with interested buyers, Tattered Cover spokesperson Steven Silvers told the Denver Gazette via email.
The company could still have an auction at a later date but it "may not be needed," he said.
Tattered Cover has been under bankruptcy since last year after struggling to recover from pandemic shutdowns and online competition. It was beginning to carve a reorganization plan until Bended Page pivoted to seek bids from potential buyers.
"This supports the company’s strategic direction toward achieving the best possible outcome for the future of Tattered Cover," Silvers said about the auction's postponement.
> Read the full story on the Denver Gazette.
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