Philip Sykes, of administrators Moore Stephens, said process letters have been sent to the potential purchasers and offers for the business have been requested by the middle of next week.
Sykes said: "We are expecting non-disclosure agreements from other interested parties" adding that he continued to be "optimistic" about the future of the brand.
Almost 100 expressions of interest in purchasing the business have been lodged with the administrators, he said, though just 25 of these were from purchasers with a "credible" interest.
Sykes confirmed that the Reader’s Digest team is working on its May issue and that its April issue will be published in the second half of March.
He said new direct marketing campaigns for the title are underway and goods - the CDs, books and DVDs the company also sells - are being dispatched to customers.
Reader's Digest UK went into administration on 17 February. Last week the company's US owner, the Reader's Digest Association (RDA), emerged from bankruptcy protection in the US, after completing its financial restructuring with 75% less debt.
This has no effect on the future of its UK arm, which is dealing with a final salary pension scheme deficit of £125m.
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