Today saw Waterford Wedgwood call in the administrators, Deloitte. Wedgwood is a traditional name in fine bone china dating back to 1759. Waterford Crystal acquired Wedgwood in 1986 and then Royal Doulton in 2005. I own a number of Royal Doulton ladies.
On my wedding I was given some beautiful Waterford Crystal glasses. I expect that these famous Irish and UK brands will be acquired, and the bulk of remaining 2700 jobs in Eire and the UK will be relocated further east leaving only some management and marketing functions on home turf.
Even though the company has transferred 75% of it operations overseas to Indonesia and Eastern Europe this was still not enough to escape the downturn in sales of its luxury product.