Waterford Crystal bankrupt! Waterford Wedgwood, which owns the Waterford Crystal, Wedgwood and Royal Doulton are bankrupt.
Waterford Wedgwood, the manufacturing plant classic China and crystal, filed for bankruptcy protection Monday after attempts to restructure the struggling company or find a buyer failed.
Waterford Crystal traces its lineage to a factory opened in Waterford, southeast Ireland in 1783, but this activity is not 1850's. The label was revived by Czech immigrant Miroslav Havel in 1947.
Waterford Wedgwood days said the British operations will be placed in administration and a receiver is appointed to its Irish operations after it failed to secure new financing.
Waterford Wedgwood bankruptcy was announced today by the company:
"Waterford Wedgwood and Royal Doulton are quintessentially classic brands that represent a high quality, which are influenced by history. The administration will work closely with management, customers and suppliers during this time to ensure continued operations, while a sale of the company is sought.
Four staff members from business locations advisory firm Deloitte was appointed to run the company's businesses in Britain and Northern Ireland, while a Deloitte partner in the Irish Republic was designated as the recipient of Waterford Wedgwood PLC, the leader of the British and Irish subsidiaries.
Post new comment