Reader’s Digest Bankruptcy

The Reader’s Digest magazine was founded in 1922.

The magazine grew quickly & was sold as hot cakes. The Reader’s Digest magazine developed as the years passed. During the year 2007, a consortium headed by Ripplewood bought The Reader’s Digest magazine company for $2.8 billion.

But Alas! the company of The Reader’s Digest magazine has been under shortage of money ever since 2005.
And currently in June, the company announced that it will cut the magazine productions upto 5.5 million since  The Reader’s Digest magazine is under Bankruptcy