Waterford Wedgwood Collapses

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