Kirkland & Ellis and Berwin Leighton Paisner (BLP) have taken key roles on the administration of Reader's Digest and the Chapter 11 of its US parent company. Readers Digest Association filed for Chapter 11 in August last year after struggling with payments on its $2.2bn (£1.4bn) debt, and the UK arm of the subscription-only magazine filed for administration yesterday (17 February) after plans to reduce its £125m pension deficit failed, putting 117 jobs at risk.
February 18, 2010 at 09:17 AM
1 minute read
The original version of this story was published on Legalweek
Kirkland & Ellis and Berwin Leighton Paisner (BLP) have taken key roles on the administration of Reader’s Digest and the Chapter 11 of its US parent company.
Reader’s Digest Association filed for Chapter 11 in August last year after struggling with payments on its $2.2bn (£1.4bn) debt, and the UK arm of the subscription-only magazine filed for administration yesterday (17 February) after plans to reduce its £125m pension deficit failed, putting 117 jobs at risk.
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