'Clear and credible interest' in Reader's Digest UK

<p>There have been &quot;almost 100 expressions of interest&quot; in buying Reader&#39;s Digest UK with 30% of approaches interested in the whole business.</p><p>Phillip Sykes, head of corporate advisory services at Moore Stephens, said:&nbsp; &quot;We have sent information memoranda and process letters to some 25 potential purchasers and have asked for indicative offers for the business by the middle of next week. We are expecting non-disclosure agreements from other interested parties.&quot;</p><p>Sykes said he was optimistic about the future of the brand, with around 30% of approaches for the whole of the business. He said potential purchasers showed a clear and credible interest.<br /><br />RDA went into administration on 17th February after its board decided that it was financially unable to meet the obligations of its underfunded pension scheme. The deal allowed its US parent Reader&#39;s Digest to emerge from its own Chapter 11 bankruptcy. </p>