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Reader’s Digest plans prearranged U.S. bankruptcy

Reader’s Digest Association Inc, whose namesake magazine has been a staple of dentists’ offices for generations, said on Monday it planned to file for Chapter 11 bankruptcy for its U.S. businesses as part of a prearranged plan with lenders to cut debt by 75 percent. The media company, known worldwide for its family magazine filled with general-interest and inspirational stories, ... Read More »