The Reader’s Digest Association announced yesterday that it has emerged from Chapter 11 bankruptcy protection.

The publisher of Reader’s Digest said the prearranged bankruptcy plan with key lenders has given the company a more solid financial structure. Reader’s Digest, which has a circulation of over seven million, has reduced circulation by more than half since 1995. The company said that it has managed to reduce its debt by seventy-five percent as well as increasing capital levels.

With access to $535 million in financing after refinancing bonds, The Reader’s Digest Association, will save $30 million in interest costs annually. The company has an additional $50 million available in a revolving credit line.

If you are a business owner and are struggling to make regular payments on your debts, you may wish to consider filing for bankruptcy to restructure your business. For more information on bankruptcy, please contact a Boston bankruptcy lawyer of Joshua Spirn & Associates by calling 800-975-5346.