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Waterford Wedgwood falls into administration

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yelooc:
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

Sklounion:
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

nigel benson:
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 ::)

yelooc:
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
.

Ivo:
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....

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