Facing liquidation in bankruptcy court, Davis-Kidd Booksellers in Memphis is being purchased by former owner Neil Van Uum.
A statement from Van Uum released Wednesday said the U.S. Bankruptcy Court in Kentucky approved the purchase of the store’s assets.
“I want to first apologize for all that my staff here at the store has had to endure,” said Van Uum in the prepared statement. “This has been a hugely trying six months and looked like it was very much headed to a tragic conclusion. Thankfully, with the support of Tom Prewitt, the owner of Laurelwood Shopping Center, we were able to save the store.
“I am excited about the future direction of our store. Eddie Burton and his team are ready to step up and take the store forward. We are fortunate to come through well positioned financially and look forward to getting our inventory back in shape. In addition, we have plans coming together for a complete remodel of the store in the fall.”
