Brad Dempsey New Interim CEO of Denver's Tattered Cover
Brad Dempsey |
Brad Dempsey has been appointed interim CEO of the Tattered Cover bookstore, Denver, Colo. CFO Margie Keenan had been interim CEO since Kwame Spearman took a leave of absence in February to campaign unsuccessfully to become mayor of Denver. (Spearman resigned as CEO in April, remains an investor, and is running for school board.)
Dempsey is a lawyer and Colorado native with more than 20 years of legal experience and has represented Coloradans in First Amendment matters before the Colorado Supreme Court and Colorado General Assembly. Tattered Cover said that he has "a strong track record of leading diverse community groups and building positive partnerships between the private sector, academia, and the nonprofit sector. As a dedicated supporter of independent bookstores and their crucial role in fostering literary and civic life, Dempsey’s vision aligns perfectly with Tattered Cover's mission."
Earlier this year, he founded his own law firm, Brad Dempsey Law, which specializes in corporate restructuring/bankruptcy proceedings, commercial/financial litigation, and collection/loan enforcement/foreclosure. He is also co-author of Injunctive Relief: Temporary Restraining Orders and Preliminary Injunctions, published by the American Bar Association.
"I am fully committed to working with the Tattered Cover team to remedy its immediate financial obstacles and refresh the company's operations to continue Tattered Cover's legacy of being a favorite Colorado destination for locals and visitors," Dempsey said. "I look forward to supporting the company's dedicated employees and senior leadership team who have worked hard to serve the company's customers and mission in challenging times. I believe in the Tattered Cover family and its mission and know that this next chapter will be bright and successful."
He also called Tattered Cover "a legendary Colorado institution that has been a vital pillar supporting literature, Colorado thought leadership, local community, civic connection, and First Amendment values for five decades. While the company has financial difficulties stemming back to the Covid years, Tattered Cover has earned strong customer support over the decades, and it continues to have an important mission and purpose of supporting Colorado's literary and civic life."
Tattered Cover intends to appoint a CEO with bookselling experience later this year.
The Denver Post noted that Dempsey has been acting as an advisor to Tattered Cover for the past two months. Dempsey told the newspaper that Tattered Cover, which has seven stores in the Denver area and three satellite stores at Denver International Airport, has "pretty substantial financial obstacles" but has "incredible intrinsic value," considering its history and reputation. His primary immediate goal, he continued, is to build sales and inventory, "to sell more of what sells." He also intends to make the stores "more attractive" destinations.
In late 2020, Tattered Cover's previous owners Len Vlahos and Kristen Gilligan sold the bookstore to an investor group that included Spearman; David Back; former American Booksellers Association CEO Oren Teicher; former Macmillan CEO John Sargent; and Dick Monfort, chairman and CEO of the Colorado Rockies baseball team.