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.
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