A little more than a year after taking over Robert Kennedy Publishing, CEO and publisher Tosca Reno has announced the company’s closure.
On a blog post on her personal website, Reno confirms that the fitness publisher’s parent company, Canusa, filed for bankruptcy on June 7.
Canadian magazines website Masthead refers to a rep from estate trustee Deloitte & Touche, who says that Canusa’s assets will be sold: “They’re still looking at different ways of how they’re going to do this. We have a lot of issues with copyright, and who owns what, so that might have to be sorted out first.”
Robert Kennedy, who founded RKP in 1967, named his wife, Reno, a best-selling author and fitness activist, as his successor before his death last April. On her website, Reno writes:
As many of you know, last year I lost my husband of 8 years and reluctantly took the helm of the distressed publishing business he built. Robert was a tremendous visionary who grew a unit of bodybuilding, health, fitness and clean-eating magazines and books, that were global staples, in its long-distant prime days… Due to many years of financial difficulty, I was forced to make the decision to restructure the business as a whole in order to allow our brands, Oxygen, Cleaning Eating and The Eat-Clean Diet to possibly find a new home, where my hope is they can thrive again.