The Reader's Digest Association, publishers of the periodical of the same name, is filing for Chapter 11 bankruptcy. The company has cited going from publicly traded to private as a large reason for the filing.

In 2007, Reader's Digest Association borrowed money to buy public shares to allow itself to go private. However, it has not performed as well as expected recently and is having trouble with its debt. However, it has come to an agreement with lenders for its bankruptcy.

If you are considering bankruptcy, contact the Arizona bankruptcy lawyers of the Harmon Law Office, LLC at 480-829-0494.