Davis-Kidd’s parent company is going on the auction block today, a process that will decide the fate of the much-loved East Memphis bookstore.
It should be noted that the auction process doesn’t appear to have anything to do with the performance of the Memphis store itself.
That’s the most unfortunate part of the turn of events.
The Daily News reported last month creditors of Davis-Kidd’s bankrupt parent company weren’t happy with the company’s decision to close all but a few of its strongest remaining stores, such as the Memphis store.
Those creditors thought the company ought to pursue a liquidation instead.
Meanwhile, the community institution is open for business today – and hopefully for many days afterward.