Waterford Wedgwood

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Legendary crystal and ceramics manufacturer Waterford Wedgwood was placed into administration and receivership in the United Kingdom and Ireland yesterday. The move, similar to chapter 11 bankruptcy in the United States, reflects stock market conditions and a failed round of fundraising for a planned restructuring.

Waterford Crystal, which dates to 1783, has been operating in its modern guise since 1947; Wedgwood (which traces its own history to 1759) was purchased by the previous Waterford Glass Group in 1986. The company's US and other subsidiaries are not currently affected by the moves in the UK and Ireland. Three US firms are discussing financial options for the company today.

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Timely Demise tracks the retail industry as it changes with our unprecedented economic environment. Published by David Wertheimer. Did I miss something? Drop me a line.

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This page contains a single entry by David Wertheimer published on January 6, 2009 9:59 AM.

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