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A $40,000 settlement with its Littleton landlord last week cleared the way for approval.
A $40,000 settlement with its Littleton landlord last week cleared the way for approval.
The bankrupt local bookseller received three bids, including one from former Tattered Cover CEO Kwame Spearman and a colleague.
A planned Wednesday auction of the local bookstore chain was canceled.
The parties have signed NDAs and “are actively reviewing data and information.”
The chain lost twice as much money in February as it projected, according to a court filing.
“Our sales essentially double in December and then in January we have to pay the bill for that,” CEO says.
Kwame Spearman, who is in talks with potential buyers, opposed Brad Dempsey’s salary.
Kwame Spearman already owns a minority stake in the company, but said in court documents he and investors could offer to buy it.
From a famous bookstore to an infamous homebuilder, companies to keep an eye on.
CEO Brad Dempsey said the bookstore can emerge from bankruptcy “at the beginning of next year” and a sale is not being contemplated.
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