Reader's Digest (UK) collapses

[rebbonk]

Reader's Digest in the UK collapsed into administration today after it failed to secure regulatory backing for a pension scheme funding deal.

Its embattled US parent group - Reader's Digest Association - said it was no longer able to support the British edition following the UK Pensions Regulator's decision not to give the green light to plans to fund its UK pension.

The British edition of the magazine has a history dating back to 1938. It has offices in Canary Wharf, east London, and Swindon, Wiltshire.

Administrator Moore Stephens said it was reviewing the title's financial position, but intended to continue publishing the magazine in the UK while it sought a buyer.

Read more: http://www.dailymail.co.uk/news/article ... ation.html