Reader's Digest Bankruptcy – a sign of the times?
Reader’s Digest is expected to file for bancruptcy under Chapter 11 soon.
My grandmother loved it and to me it has been always quintessential Americana. Diluted these last years, to be sure, sadly. $2.2 billion debt. Bought by Ripplewood Holdings in 2007. I do hope that there is a chance to restructure. Even if you are no fan of Reader’s Digest – a demise of this once phantastic brand would mark another step towards change not everybody might welcome.
Written & © by Helena Lind
August 18th, 2009 at 12:45 pm
Shame, I always used to like the Readers Digest!
October 6th, 2009 at 9:29 am
The magazine has been undergoing changes for years, most of them not good. I knew however that the end was near when they removed the artwork from the back cover and replaced it with advertising. That’s when I stopped renewing my subscription. I’ve been a loyal subscriber for 20 years. But the changes that were made were too much for me to bear. I love The Readers Digest and will miss it.