I read today that one of my favorite company’s for indulging has filed bankruptcy… Waterford/Wedgwood!
If ever there were a company ripe for bailout or US Government ownership….this is the one.
I know I know…it is an English company…but why would we put any restrictions on who gets a bailout NOW?
In all seriousness, it appears the company will continue to look for buyers to maintain the 250 year old traditions started in Stoke-on-Trent, England in 1759 and Waterford, Ireland in 1783. From Fox Business:
Wedgwood has been an iconic name in British pottery for 250 years, after its founder Josiah Wedgwood opened the first factory in Stoke-on-Trent, central England, in 1759. It began making bone china in the 19th century.
Waterford Crystal traces its lineage to a factory opened in Waterford, southeast Ireland in 1783, although that business failed in the 1850s. The brand was revived by Czech immigrant Miroslav Havel in 1947.
Waterford acquired Wedgwood in 1986 to form the present company, listing on the stock exchange and expanding overseas in the 1990s before buying fellow Stoke-on-Trent ceramics maker Royal Doulton in 2005.
Having been to Waterford, Ireland and visited the company myself (yes, I am a serious lover of their crystal and Wedgwood pottery!), I couldn’t agree more with the mayor of Waterford:
Waterford Mayor Jack Walsh said the closure of the crystal factory would deal a cultural and psychological blow to all of Ireland, noting that the crystal plant was one of the country’s top tourist attractions and the product “one of only a handful of iconic Irish brands.’
“Given this, it is of major strategic importance that this company not be allowed to slip into oblivion,” Walsh said.
If I had the cash, I’d buy it!