Post Starts Here

Reader’s Digest Association said that they have planned to file for Chapter 11 Bankruptcy Protection in an effort of cutting down substantially on the debt load that the organization has incurred.

"The organisation has reached an agreement with its lenders on a restructuring plan" reported The Wall Street Journal.



Mary Berner, who is the President and the Chief Executive Officer, said in a statement, “The company has strong brands and products, a leadership position in many markets around the world and a solid plan for the future. Restructuring our debt will enable us to have the financial flexibility to move ahead with our growth and transformational initiatives.”

With such huge brand , it’s unlikely the publication will disappear completely anytime soon. But the organisation needs a focussed and planned approach to survive in the long run.

All Reader's Digest Fans can discuss about the situation below.

Do you have any suggestions? Add your comments.
Please don't spam !!