Phillip Sykes, head of corporate advisory services at Moore Stephens, said he was optimistic for a future for the company, which filed for administration last month (17 February).

Around 30% of approaches so far have been for the business as a whole and come from "potential purchasers with a clear and credible interest ", he said.

"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," Sykes added.

Around 117 jobs were put on the line when the UK arm of the publishing company filed for administration last month.

The collapse of the UK operation came as a deal to help bail out its £125m pension deficit fell through – an issue that the RDA blamed on the UK Pensions Regulator.

The business had previously reached an agreement with the trustees of the fund to pay £10.9m in cash and one third of its shares to fill the deficit and transfer the scheme to the Pensions Protection Fund. However, this deal was rejected by the UK Pensions Regulator.

Speaking last month, Mary Berner, president and chief executive of the RDA, said: "Without this expected relief, and given the very significant outstanding liabilities, RDA UK is essentially insolvent."

As a result of the UK administration, RDA, which filed for Chapter 11 in August last year, has now emerged from bankruptcy protection after reducing its debt by 75%.

April's issue of the Reader's Digest magazine is still scheduled to be published later this month.