The chain lost twice as much money in February as it projected, according to a court filing.
tattered cover
Tattered Cover lost $340K in January, expects February losses
“Our sales essentially double in December and then in January we have to pay the bill for that,” CEO says.
Tattered Cover CEO will be paid $120K despite predecessor’s protests
Kwame Spearman, who is in talks with potential buyers, opposed Brad Dempsey’s salary.
Ex-Tattered Cover CEO says current CEO doesn’t deserve $120K salary
Kwame Spearman already owns a minority stake in the company, but said in court documents he and investors could offer to buy it.
Tattered Cover, leaner and with a lender, sounds optimistic at hearing
CEO Brad Dempsey said the bookstore can emerge from bankruptcy “at the beginning of next year” and a sale is not being contemplated.