Reader's Digest rescued in UK

Moore Stephens – appointed after the 72-year-old UK edition of the magazine went into administration earlier this year – is expected to announce that private equity group Better Capital has taken on the business.

Better Capital, set up by private equity veteran Jon Moulton, was one of a host of interested bidders for Reader's Digest UK.

The magazine called in administrators on February 17 when its embattled US parent Reader's Digest Association revealed that the business was no longer able to support the UK operation following a crisis in its pension fund, which had a 125m deficit.