Jewellery manufacturer Waterford Crystal’s parent company Waterford Wedgwood has become the latest victim of the global economic crisis after filing for bankruptcy protection yesterday.
Waterford Wedgwood’s jewellery line is a sterling-silver and crystal range designed by Robert Tateossian and Waterford Crystal chief designer John Connolly. The range debuted in Irish retailers in December 2007.
The company, which was poised to celebrate its 250th anniversary this year, is famous for handcrafted figurines and tableware as well as the chandeliers in Westminster Abbey and Windsor Castle . Waterford signed up stars such as the chef Gordon Ramsay and the designer Sir Terence Conran to launch more modern lines. It also introduced Wedgwood’s Eternity China, which can be used in microwaves and dishwashers. However, the company suffered from funding issues and was weighed down by the cost of its restructuring efforts.
Waterford Wedgwood non-executive chairman Sir Anthony Reilly said: "We are consoled only by the fact that everything that could have been done, by management and by the board, to preserve the group, was done."
Waterford Crystal goes into administration
Tue, 06 Jan 2009
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