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05 Mar 2010
Administrators for the UK branch of Reader’s Digest have said that nearly 100 expressions of interest have been made in purchasing the business.
Phillip Sykes, head of corporate advisory services at Moore Stephens, was optimistic about the future of The Reader's Digest Association Limited, which went into administration last month, with around 30% of those expressing an interest looking to buy the business as a whole.
“We have sent information memoranda and process letters to some 25 potential purchasers and have asked for indicative offers for the business by the middle of next week,” said Sykes. “We are expecting non-disclosure agreements from other interested parties.”
Further reading:
Moore Stephens confident on buyer for Reader's Digest
Readers Digest US parent could be held liable for UK pensions deficit
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