Waterford Wedgewood Latest Victim of Global Economic Woes

Wedgewood, one of Britain's most iconic brands, became a victim of the credit crunch today when it announced it had gone into "administration" - similar in Britain to Chapter 11 in the US. The announcement was made simultaneously in Britain and in Ireland where the company also owns Waterford Crystal. Receivers are being appointed in Ireland.

Besides the familiar blue and white bisque china, made since the firm was founded by Josiah Wedgewood, 300 years ago, and Ireland's equally iconic Waterford Crystal, the company also owns Royal Doulton china and several other classic brands.

Following the appointment of the administrator and receivers, David Sculley, group chief executive officer of Waterford Wedgwood plc, expressed optimism that a buyer could be found for the company, which was continuing to do business as usual today.

Meanwhile, if you collect Wedgewood, Waterford or Royal Doulton, now may be the time to stock up on your favorite patterns.

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