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01 Mar 2010
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
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