Readers Digest administrators consider nine offers

by Rachael Singh

More from this author

15 Mar 2010

  • Comments

Nine offers have been made for Readers Digest according to administrator Philip Sykes, head of advisory services at Moore Stephens.

"The process is progressing as planned and we are very pleased with the number and quality of offers we have received. We are now evaluating the bids and will begin detailed negotiations and due diligence with selected bidders from the beginning of next week,” Sykes said.

This is a significant drop in the number of companies which showed interest. Earlier this month administrators reported nearly 100 expressions of interest from businesses.

Readers digest is continuing to publish, with the April issue available now and work already underway for the May edition.

The publication entered administration in February with just nine of the 117 employees made redundant.

Further reading:

100 ‘interested’ in buying Reader's Digest UK

Moore Stephens confident on buyer for Reader's Digest

Readers Digest US parent could be held liable for UK pensions deficit

Visitor comments

blog comments powered by Disqus
display:none

Add your comment

We won't publish your address


By submitting a comment you agree to abide by our Terms & Conditions

Your comment will be moderated before publication

Submit
  • Send

Financial Planning and Performance AnalystCabinet Office-Greater London-Competitive

 
 
 
 
 
 
 
 

 

Newsletters

Get the latest financial news sent directly to your inbox

  • Best Practice
  • Business
  • Daily Newsletter
  • Essentials

Careers

Search for jobs
Click to search our database of all the latest accountancy roles

Create a profile
Click to set up your profile and let the best recruiters find you

Jobs by email
Sign up to receive regular updates with the latest roles suitable for you

Briefings

budget-management

Why budgeting fails: One management system is not enough

If budgeting is to have any value at all, it needs a radical overhaul. In today's dynamic marketplace, budgeting can no longer serve as a company's only management system; it must integrate with and support dedicated strategy management systems, process improvement systems, and the like. In this paper, Professor Peter Horvath and Dr Ralf Sauter present what's wrong with the current approach to budgeting and how to fix it.

cchcover

iXBRL: Taking stock. Looking forward

In this white paper CCH provide checklists to help accountants and finance professionals both in practice and in business examine these issues and make plans. Also includes a case study of a large commercial organisation working through the first year of mandatory iXBRL filing.