Reader's Digest magazine denies insolvency rumors
The US magazine Reader's Digest and its editions around the world are threatened with insolvency. This was reported by the Bloomberg News Service on Friday. The President and CEO of Reader's Digest denied these rumors in a communiqué.
The US magazine Reader's Digest and its editions around the world are threatened with insolvency. In view of falling circulation and the decline in advertising revenue, the publisher has commissioned a law firm in Chicago to examine all options. This was reported by the Bloomberg News Service on Friday. As the specialist business agency reported on Friday, this also includes filing for bankruptcy.
The President and CEO of Readers Digest denied these rumors in a communiqué on Friday. The law firm has been retained to advise the company on a wide range of corporate matters.
According to SDA, the magazine announced in January that it would cut eight percent of its 3,500 jobs worldwide.
The President and CEO of Readers Digest denied these rumors in a communiqué on Friday. The law firm has been retained to advise the company on a wide range of corporate matters.
According to SDA, the magazine announced in January that it would cut eight percent of its 3,500 jobs worldwide.
