100 ‘interested’ in buying Reader’s Digest UK

100 ‘interested’ in buying Reader's Digest UK

Optimism high for successful conclusion of administration as interest in iconic brand floods in

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

Moore Stephens appointed to insolvent Reader’s Digest

Share

Subscribe to get your daily business insights

Resources & Whitepapers

Why Professional Services Firms Should Ditch Folders and Embrace Metadata
Professional Services

Why Professional Services Firms Should Ditch Folders and Embrace Metadata

3y

Why Professional Services Firms Should Ditch Folde...

In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...

View resource
2 Vital keys to Remaining Competitive for Professional Services Firms

2 Vital keys to Remaining Competitive for Professional Services Firms

3y

2 Vital keys to Remaining Competitive for Professi...

In recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...

View resource
Turn Accounts Payable into a value-engine
Accounting Firms

Turn Accounts Payable into a value-engine

3y

Turn Accounts Payable into a value-engine

In a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...

View resource
Digital Links: A guide to MTD in 2021
Making Tax Digital

Digital Links: A guide to MTD in 2021

3y

Digital Links: A guide to MTD in 2021

The first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...

View resource