Reader’s Digest Brand is Key to Strategy in Bankruptcy
Like recently bankrupt Hostess Brands, maker of Twinkies and Wonder Bread, and bankrupt Eastman Kodak Co., inventor of Kodachrome film and Instamatic cameras, Reader’s Digest has a potentially valuable name.
“The brand will carry on, and that name has value,” Van Conway, chief executive officer of turnaround management firm Conway MacKenzie, said in a telephone interview. He said also that a company burdened by debt must “be nimble enough” to deal with the changing world of electronic readers.
Company officials “have embarked on an ambitious but necessary set of initiatives to transform the debtors’ core businesses around their iconic brands,”