Administrator Seeks Bids For Reader's Digest UK

By Abigail Rubenstein

Law360, New York (March 05, 2010, 1:21 PM ET) -- The administrator overseeing the insolvency proceedings for The Reader's Digest Association Inc.'s U.K. unit, which the company decided to cut loose to hasten its own exit from bankruptcy, said Friday that the firm has solicited offers from 25 potential buyers.

Phillip Sykes, head of corporate advisory services at Moore Stephens, the joint administrator for RDA U.K., said the firm has received nearly 100 expressions of interest in purchasing the business.

According to Sykes, about 30 percent of the approaches came from potential purchasers “with a clear...
To view the full article, take a free trial now.

Already a subscriber? Click here to login

You must correct or enter the following before you can submit this form:

All fields required

  5. Required

Only Law360 gives you:

Non-stop coverage of high-stakes litigation across 30 practices

Real-time tracking and reports on 10,000+ companies, firms and industries

Over 80,000 attorney profiles with neutral data collected from active lawsuits

Research tools to find cases, court documents, attorneys and companies

Customized feeds and alerts that can easily be shared with colleagues

In-depth expert analysis from high-profile attorneys at top firms

Access to our vault with over 75,000 original articles