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Article: Writing is on the wall; city FOCUS.(Business)
- Article from:
- Daily Mail (London)
- Article date:
- August 19, 2009
CopyrightCOPYRIGHT 2009 Solo Syndication Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Simon Duke
FOR more than seven decades Reader's Digest has been a comforting presence in dentists' waiting rooms and middle-class households up and down the land.
With its heart-warming tales of courage overcoming adversity and the cosy world view that permeates its pages, there is a timeless quality to every edition of the pocket-sized tome.
But the US company behind the magazine has become a victim of the tumultuous economic times.
It filed for 'Chapter 11' protection from its creditors this week after being overwhelmed by mammoth debts - the legacy of a private equity takeover struck at the height of the credit bubble in ...