Reader’s Digest UK to file for administration
February 17th, 2010Posted by Judith Townend in Business, Editors' pick, Magazines
Reader’s Digest UK has filed an administration proceeding in the UK, it has been announced by the company. As reported by the Guardian today, it follows the failure of a deal to settle its pension fund. RDA today announced:
RDA (Reader’s Digest Association) does not expect the UK administration to have a material impact on its financial performance as the UK business has been operating with negative free cash flow, and without the contemplated restructuring the corporation did not see a clear pathway to profitability in the UK over the next several years.
Tags: reader's digest uk, readers digest
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