Moore Stephens confident on buyer for Reader's Digest
The company will continue to produce its publication as administrators believe a buyer will be secured
Administrators Moore Stephens are confident they will find a buyer for
Reader’s Digest the popular brand best known for its magazine.
The firm is working closely with the Reader’s Digest Association to stabilise
the business which is continuing to trade.
Philip Sykes, one of the administrators, said there was a significant
interest in the company and is continuing to seek a buyer for the business.
“While we are reasonably optimistic, it is difficult to predict a timescale,
but negotiations with interested parties have begun,” he added.
Readers Digest, which has an estimated subscription of 500,000, will publish
an April issue.
RD employs 117 staff in the UK, split between its Canary Wharf and Swindon
offices.
Further reading:
Moore
Stephens appointed to insolvent Reader’s Digest
Readers
Digest US parent could be held liable for UK pensions deficit