Wednesday, January 20, 2010

Reader’s Digest on Target to end Bankruptcy

Reader’s Digest just reported that their restructuring plan was approved and the company could exit bankruptcy by January 31. The company’s debt would be reduced from $2.2Billion to $550Million and the retirement for past employees would be modified. They will reduce headcount and move headquarters to a more efficient faculty.

1 comment:

P. Scott Vallely said...

RDA decided to delay emergence from Chapter 11 bankruptcy in order to settle an issue with UK based pension regulators who did not approve the pension applications submitted. No new date is set for emergence.