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Waterford Wedgwood goes out of business.

The rich hunkering down?

*****

Wedgwood falls into administration

By John O’Doherty, FT.com

Published: January 5 2009 08:10 | Last updated: January 5 2009 12:39

Waterford Wedgwood is to go into administration, the maker of cut glass and designer crockery said on Monday. Deloitte has been appointed as administrator of some of the company’s UK and Irish subsidiaries.

”I am disappointed that certain of the group’s UK and Irish subsidiaries have had to go into administration and receivership, but we remain optimistic that ongoing discussions will result in a buyer being found for the businesses,” said David Sculley, the group’s chief executive.




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Things change.

Even companies that make very fine products can go under if their management fails to adapt to prevailing conditions. Apparently, Waterford-Wedgwood wasn't able to service their debt load.

It's quite likely that their manufacturing assets will be sold to someone who maintains the brand.

-jcr

"The problem with trying to child-proof the world, is that it makes people neglect the far more important task of world-proofing the child." -- Hugh Daniel