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Glass Mall => Glass News => Topic started by: yelooc on January 05, 2009, 04:55:19 PM

Title: Waterford Wedgwood falls into administration
Post by: yelooc on January 05, 2009, 04:55:19 PM

Dear All,

Sad news; another glass company on its way out; perhaps they'll find an investor?

http://www.guardian.co.uk/business/2009/jan/05/retail-recession

http://www.ft.com/cms/s/0/d084d384-daf7-11dd-be53-000077b07658.html

Title: Re: Waterford Wedgwood falls into administration
Post by: Sklounion on January 05, 2009, 08:11:06 PM

Sad news.........

not necessarily, from a collectors point of view....

 As someone else noted, in such hard economic times....

"a like to have, rather than a must have",

so get investing in pharmaceuticals, breweries and the big supermarkets.
People get ill, still drink, and need to eat.
Forget investing in glass, (except to buy a cake-plate (eat) or beer-mug (drink) preferably by Sotola  ;D ;D)

(and being responsible, I suggest that folks primarily invest in knowledge) :-[ :-[

M

Title: Re: Waterford Wedgwood falls into administration
Post by: nigel benson on January 05, 2009, 11:36:59 PM

Hi,

This is what I wrote on w/f's.com:

"This is indeed sad news, although much of the work sold under their banner has recently been made abroad (Poland and the like), which I thought was particularly sad too, but a sign of the times in order to be competitive.

The names of Stuart and Edinburgh Crystal will also go if Waterford Wedgwood do not find a buyer, since they own them as well. This could be the final death nell to a once great industry - what a disaster  :cry:

I had been given a heads up on this toward the end of November when I was talking to the manager of the Waterford concession at one of the department stores. She also told me that 2-3 weeks prior Royal Worcester and Spode had gone into receivership. That one seemed to slip under the radar  :o

Curently Dartington are holding on and Nazeing seem to be weathering the storm (their practice of niche marketing might just get 'em through)  : :)

Sad days....."

Nigel


PS - Marcus, do please carrying on investing in glass young man - I need da' money ;) :) Seriously, this could well be a time we all look back on with some, dare I say, 'foundness' for the bargains that are bound to be around. (Yes, if we have cash to spare).

BTB you missed out sex. I was listening to the radio before Christmas and in the programme they gave a run down on phone numbers that were 'in' and 'out' - :-[ -  at directory enquiries. Apparently, estate agents had gone down by (from memory) 95%, whilst requests for sex shops numbers had gone up by over 1000%  :o ::)

Title: Re: Waterford Wedgwood falls into administration
Post by: yelooc on January 06, 2009, 03:25:10 PM

Sir Arthur wades in!

http://news.sky.com/skynews/Home/Business/China-And-Crystal-Maker-Waterford-Wedgwood-Calls-In-Administrators/Article/200901115197428?lpos=Business_Top_Stories_Header_1&lid=ARTICLE_15197428_China_And_Crystal_Maker_Waterford_Wedgwood_Calls_In_Administrators
.

Title: Re: Waterford Wedgwood falls into administration
Post by: Ivo on January 07, 2009, 05:19:41 PM

I think Sir Arthur is spot on and management failed to keep up with changing consumer demands. If they could supply what buyers wanted they would still be in business, wouldn't they? They could have opted for the high added value (Lalique, Baccarat) angle, or they could have opted for the high volume (Durobor, Arques) strategy - but neither went through....

Title: Re: Waterford Wedgwood falls into administration
Post by: Frank on January 09, 2009, 12:30:48 PM

They were working for their preference-shareholders not consumers. That approach to commerce is largely dead.

But consumers do not help by demanding the cheapest prices for utility goods, above quality. In my opinion it is better for luxury glass to buy from glass studios or privately owned companies anyway (Or from glass dealers for second-hand glass of course  ;) ). Plenty of these still exist - at the moment but are also feeling the pinch of increased energy costs.

Title: Re: Waterford Wedgwood falls into administration
Post by: yelooc on February 03, 2009, 12:37:54 PM

Some hopeful signs:

Telegraph 01/02/09:
http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/privateequity/4425312/Clarion-in-offer-for-Waterford-Wedgwood.html

Telegraph 02/02/09:
http://www.telegraph.co.uk/news/worldnews/europe/ireland/4437398/Wedgwood-family-make-approach-for-firm.html

Title: Re: Waterford Wedgwood falls into administration
Post by: yelooc on February 05, 2009, 09:58:22 PM

More hopeful news:

Union leader at Waterford believes plant can be saved:
Feb 5th 2009
http://www.irishtimes.com/newspaper/ireland/2009/0205/1233713219443.html

Thousands to attend Waterford jobs protest:
4th Feb 2009:
http://www.irishtimes.com/newspaper/ireland/2009/0204/1233713217525.html
.

Title: Re: Waterford Wedgwood falls into administration
Post by: David E on February 09, 2009, 05:31:02 PM

I have been in touch with Ivana Bacik (http://www.ivanabacik.com/) before, who is the granddaughter of Karel Bacik the founder of modern-day Waterford. A very nice lady and currently an independent Senator in the Irish parliament - is it worth getting in touch with her to see what her thoughts are?

Title: Re: Waterford Wedgwood falls into administration
Post by: yelooc on March 06, 2009, 10:53:29 PM

US company takes over Wedgwood
http://news.bbc.co.uk/1/hi/business/7915669.stm