7.5 C
United States of America
Tuesday, November 30, 2021

Colorado’s Tattered Cover bookstore to become country’s largest Black-led bookseller

A leading independent bookstore, the Colorado-based Tattered Cover, has been sold to a group of investors and will become the country’s biggest Black-led bookseller.

An investment group led by Denver natives Kwame Spearman, who will serve as CEO and operations supervisor, and David Back purchased the Tattered Cover for a massive amount of money. The prior owners, Len Vlahos and Kristen Gilligan, will stay in an unofficial capacity through June.

They purchased the store out of longtime owner Joyce Meskis at 2015 and had enjoyed steady business before the pandemic this season led to a critical lack of revenues.The Tattered Cover opened in 1971, and today has four locations in and around Denver. The new ownership is going to have a board of directors including industry veterans as John Sargent, the leaving CEO of Macmillan, and Oren Teicher, the retired CEO of the American Booksellers Association, the trade group for independent shops. Other shareholders include Colorado Rockies owner Dick Monfort.

“This is not just a bookstore, this is the Tattered Cover,” Back, a former Tattered Cover cashier, told The Associated Press on Wednesday. He acknowledged it was risky to buy a physical bookstore in a time of rising dominance by Amazon.com. But he explained that” reward and risk are constantly commensurate” and was optimistic that via a range of adjustments — by a more powerful online presence to more in-store events — they could”build the foundations” for growth.

Latest news

Experts Say That Pandemic Is Not Over Yet & Will Rise Again

Public health officials in the US have warned that the Covid-19 explosion will again start hitting the country during the time of...

Texas Banning Mask Authorizations May Violate Students Right

On Wednesday, The national judge of Texas said that the mask mandate ban rule by Gov. Greg Abbott's in the schools may...

European Countries- Now High-Risk Travel Destinations By CDC

The US Centers for Disease Control and Prevention introduced two European states in northwest Europe to its database of "enormously high" threat...

Parents Question Pediatricians – The Coronavirus Vaccines For Kids

The United States of America has started rolling out the Pfizer vaccines in small doses for children between the ages of five...
Related news

Experts Say That Pandemic Is Not Over Yet & Will Rise Again

Public health officials in the US have warned that the Covid-19 explosion will again start hitting the country during the time of...

Texas Banning Mask Authorizations May Violate Students Right

On Wednesday, The national judge of Texas said that the mask mandate ban rule by Gov. Greg Abbott's in the schools may...

European Countries- Now High-Risk Travel Destinations By CDC

The US Centers for Disease Control and Prevention introduced two European states in northwest Europe to its database of "enormously high" threat...

Parents Question Pediatricians – The Coronavirus Vaccines For Kids

The United States of America has started rolling out the Pfizer vaccines in small doses for children between the ages of five...

LEAVE A REPLY

Please enter your comment!
Please enter your name here