Seniors in Canada fear three things.
Alzheimers.
Dimentia.
and unwanted Readers Digest books and products, like overpriced CD’s and knick-knacks… many of which they insist they did not order.
A local Canadian post office claims that 15% of their daily work is returning unwanted and overpriced budget quality books sold by Readers Digest at an utterly outrageous price.
But there is comeuppance on the horizon folks. And the schadenfreude comes in the form of news that Reader’s Digest International is applying for bankruptcy protection.
What? Could not sell enough shit books to confused seniors?
Senior secured lenders will exchange a “substantial portion” of $1.6 billion in debt for equity, the publisher said today in a statement. Some of them will provide a $150 million bankruptcy loan, debtor-in-possession financing, to ensure the company has enough liquidity during its reorganization.
Gee. Does that mean that my dear old (now hospitalized) Aunt does not owe $800 Canadian for 12 of your shitty books and CD’s?
Here is hoping.