Reader’s Digest Filed For Bankruptcy
So sad. But I understand why FHM always sells better than Reader’s Digest.
NEW YORK, Aug 17 (Reuters) – Reader’s Digest Association Inc, publisher of the widely-read Reader’s Digest magazine, said on Monday it would likely file for Chapter 11 bankruptcy for its U.S. businesses to cut its debt load.
The media company, known worldwide for its family-friendly namesake magazine, been trying to slash costs and boost growth since it was taken private in 2007 by an investor group led by Ripplewood Holdings LLC.
The bankruptcy would take the form of a so-called pre-arranged filing, Reader’s Digest said in a statement. A pre-arranged filing comes after a company has already reached deals with its lenders to cut its debt.
The Chapter 11 filing will apply only to the company’s U.S. businesses. Its operations in Canada, Latin America, Europe, Africa, Asia and Australia-New Zealand will not be affected.
shocking.
then why do i still keep receiving letters from readers digest that there are grand lucky draws with plenty of money to win?
fraudy.
I also received. I always think it is scam though.