Sign of the Times. Waterford Wedgwood Goes Bankrupt!

January 6, 2009 • Fashion

I know this is a little off-topic for us, but I am in shock. You know things are bad when Waterford Wedgwood falls victim to the heinous economy! Heck I just received a whole slew of Waterford when I got married in 2007!

According to WWD, the Ireland-based company that produces Wedgwood tableware, Royal
Doulton china and Waterford crystal placed its U.K. and Irish divisions
into administration and receivership, the U.K. equivalent of Chapter
11, on Monday.

Administrators at Deloitte said poor
trading conditions meant the company had not been able to complete its
planned financial restructuring. The company also failed to Waterfordlogo
find a
buyer, which finally forced it to seek administrative protection. A spokesman for Waterford Wedgwood told WWD Monday that administrators
intend to run the business as normal while the company continues to
look for a buyer, and added there was “no reason why” the designers’
lines would be impacted nor would the U.S. division (phew).

Source: WWD

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