Reader's Digest Parent Company Files For Bankruptcy Protection
RDA Holding Co. says it will keep publishing the magazine during the bankruptcy, the company's second in less than four years.
The parent company of Reader's Digest has filed for Chapter 11 bankruptcy protection for the second time in less than four years, according to the Associated Press.
RDA Holding Co. says it will keep publishing the magazine during the bankruptcy and aims to be out of Chapter 11 within six months. The New York company said it needs to cut its debt so it can keep restructuring.
RDA owns the former Reiman Publications in Greendale and announced at the end of 2011 it was cutting 30 employees there, leaving the location with about 250 employees.