Robert Kennedy Publishing Ceases Operations

Canusa Products Inc., the parent company of Robert Kennedy Publishing, has closed its business operations and filed for bankruptcy.

Robert Kennedy Publishing, named for the company's founder who died last year at the age of 73, produced magazines such as Muscle Mag International, Oxygen and American Curves. The company, based in Mississauga, Ontario, Canada, closed for business June 7, the same day of the bankruptcy filing.

In a statement, Tosca Reno, Kennedy's widow, said the company suffered years of financial difficulty, leading to the decision to restructure the business.

"As many of you know, last year I lost my husband of eight years and reluctantly took the helm of the distressed publishing business he built," Reno said in a statement. "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."

Reno added the restructuring will allow brands such as Oxygen, Clean Eating and The Eat-Clean Diet to possibly continue with another company.

Deloitte & Touche Inc., Toronto, said it was appointed as the trustee of the bankrupt estate. A meeting of creditors is scheduled for June 27 in Toronto.

In its statement, Robert Kennedy Publishing outlined the recent trends of the publishing industry, attributing a decrease in sales to consumers choosing tablets over e-books and hard-copy printed materials.

"These factors, along with the soft economy, have pushed many businesses into bankruptcy, particularly in the publishing world," the company stated.

A spokesperson for Robert Kennedy Publishing did not provide additional information about the company or the fate of its magazine titles.