Chicago, ILL. (Vocus) August 21, 2009
Earlier this week, Reader’s Digest filed for bankruptcy protection, indicating that Chapter 11 is next for the publication giant. This will be yet another bankruptcy record added to the growing list of media companies that have fallen to the recession and changing consumer media consumption habits. As an increasing number of people and businesses are falling into financial distress, the website bankruptcy-records.com is being utilized to search for bankruptcy records.
Reader’s Digest will likely be added to the bankruptcy records database if it files for chapter 11. The impetus behind the filing is the lag in circulation numbers. At its peak about 30 years ago, it sold 18 million copies month. Now, facing a bankruptcy record, the numbers are now less than half of this amount.
In 2007, the firm Ripplewood Holdings bought Reader’s Digest for $1.6 billion. This firm will now see its investment wiped out as Reader’s Digest Association will cut its debt to $550 million from $2.2 billion through its bankruptcy record filing. J.P. Morgan Chase and Co. will then take control of the company.
As the recession continues, more people are turning to the website bankruptcy-records.com to find public bankruptcy records. This site provides access to the case file numbers, civil court records, documentation discharge papers, list of creditors, voluntary and involuntary filings for chapter 7, 11 and 13, and the complete bankruptcy file. Professionals that need to search for multiple public bankruptcy records will often become a member of the site to use unrestricted access to over 1 billion bankruptcy search results.
Bankruptcy-records.com is a one stop shop for people looking for instant bankruptcy records. Members enjoy unrestricted access to over 1 billion county and state records that are accurate and printable. The user-friendly site uses sophisticated cross-database capabilities and offers expert assisted customer support. With any question about bankruptcy-records.com, please visit the website.