US parent company’s bid to plug pension shortfall blocked
PM newsdesk
Publication date:
2 February 2010
A pension fund hole at Reader’s Digest could push the UK magazine into administration and put over a hundred jobs at risk, it has been reported.The publication’s American parent group Reader's Digest Association (RDA) proposed injecting £10.9 million and one-third of the equity of the UK business into the UK pension fund, which reportedly has a £125 million shortfall.