British Icon
Waterford Wedgwood
Collapses
As UK Economy
Shrinks Faster
Proud British Best
250-year-old
Fine China
And
Glassware Maker
Joins Woolworths
Hardy Amies
Whittard
And
Royal Worcester and Spode
As Latest Big Victim
Of Global Credit Crunch
Its Owner
Irish Media Tycoon
Sir Anthony O' Reilly
Also Independent News and Media
Owner Faces
Huge Losses
Of Millions Of Pounds
The Company
May Lay Off
2,700 Workers
In UK And Ireland
It Also Owns
The Royal Doulton Brand
Yesterday Morning
It Announced
It Had Gone
Into Receivership
With Deloitte
As Administrator
Earlier
On January 4,2009
It Filed For
Bankruptcy Protection
Having Suffered
Massive 231.1 Euros
Losses In 2008
Its Shares
Fell To 0.001 Euro Cent
In October 2008
Sir Anthony And
Greek Shipping Magnate
Peter Goulandis
Had Invested
400 Million Euros
After Buying Control
Of 60 Percent Last Year
Waterford Wedgwood PLC's
Biggest Banker
Bank Of America
Has Given Them
Another 16 Days
To Sell Out
To US Distressed
Specialist Fund
KPS Capital
Upset Workers
By The Hundreds
Occupy World-famous
Waterford Crystal Factory
In Kilbarry
Outside Waterford City
In Ireland Today
Feeling Betrayed
And Angry,
They Fear
Unemployment
Announced By
Deloitte Receiver
David Curson
Hours' Ago
Cutting 480
Of 800 Jobs
The Company
Had Missed
January 2 Loan Repayment
Deadline
It Has Debts
Of 449 Million Euros
After Six Years Of Losses
Waterford Wedgwood
Has 8,000 Employees
And 600 Stores Worldwide
Josiah Wedgwood
One of Britain's Fathers
Of The Industrial Revolution
Founded Wedgwood
In Stoke-on-Trent
Central England
In 1759
In Inspiring
Success Story
He Was
Charles Darwin's
Grandfather And Financier
Wedgwood Began
Making Bone China
In 19th Century
Waterford Crystal
Was Founded By
Brothers William and George
Penrose In 1783
Waterford Crystal Chandeliers
Hang In Windsor Castle
And Westminister Abbey
Waterford
Reformed By
Czech Emigres Karel Bacik
And Miroslav Havel
And
Later Floated As Public Company
Acquired Wedgwood
In 1986
And
Royal Doulton
In 2005
Meanwhile
In Dublin
Sean Quinn
Ireland's Richest Man
Admits His Family
Lost More Than
$1 Billion Buying Shares
In Anglo Irish Bank
Nationalised After
Scandal Involving
Secret Loans To
Its Chairman
He Attributes
The Losses
To "Greed"
Sources: Reuters, Yahoo! News, Financial Times, Irish Times,
Guardian, Wikipedia
