90 jobs under threat as Spode calls in administrators
AROUND 90 jobs are under threat at Spode after the historic pottery called in administrators.
Directors today called accountants from PricewaterhouseCoopers in to deal with the affairs of the company and its sister firm Royal Worcester as its efforts to return to profit were further squeezed by the global economic downturn.
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Spode works, Stoke.
The firm, which has been run in Stoke for 241 years, has spent two years in a strategy to transfer the bulk of its production overseas and sell off its landmark headquarters in Church Street, Stoke.
Last year the company, which employs around 90 people, split between its main base and a distribution centre in Newcastle, and its sister firm Royal Worcester shed more than 250 jobs in a bid to keep the firm afloat.
Matthew Hammond, joint administrator and partner at PricewaterhouseCoopers in Birmingham, said the company would be seeking a new buyer for the brands, which together employ 388 people in the UK.
Mr Hammond said: "The inability to complete the proposed sale of a site of strategic importance in Stoke and the effect of the current economic downturn on sales has led to the decision by the directors to place the company into administration.
"Our immediate priority now is to review all options for the company and immediately seek a buyer for the business.
"During this process we will work with the company's suppliers, employees and customers to try and ensure that a solution is found to provide a structure to take the business forward."
He added: "We will be continuing to use the company's extensive retail network and store concessions to supply customers with the full range of products which are in good supply."
We will have more on this story.
5 Comments
by Trish, Stoke
Friday, November 07 2008, 6:45PM
“My thoughts go out to all the staff and their families.”
by bill collins, harriseahead
Friday, November 07 2008, 6:49AM
“I visit the spode outlet in stoke quite a lot, and there are coach loads of people at the week ends, they seem to be busier than the other major china outlets, its a shame to be loosing another great icon, just hope some one will come to the rescue,.”
by Andrew Phillips, Stoke on Trent
Thursday, November 06 2008, 11:47PM
“what can you say other than its frightening. what has happened to Stoke on Trent and Worcester . I have watched thousands of skilled jobs Disappear in the City many from across the street at Royal Doulton which is now being demolished. As with my old building which housed Top of the Hill Antiques now fallen into disrepair. Many of the Staffordshire potteries are just a name now . Pottery is still being manufactured on a much smaller scale here now sadly a great deal more is farmed out to the far east.. So names like Doulton Spode Worcester and many others mean nothing . Of course pottery with these famous brand names is still made in the city but it is only a fraction of what it was . So I Re-open the book of condolence to the people of this once great City. One thing though.! the skills and wonderful artistic talent of the pottery workers still exist . Dont let it die. Also a word to the City council dont let one more brick fall from the precious heritage of the city.”
by David, Fenton
Thursday, November 06 2008, 7:31PM
“Doesnt this fit in nicely with the plans for regeneration in the town and the development of Stoke. MU4 will now be a vacant site after the loss of more jobs and therefore any development of the site will be better than left derelict. Spode sits in the centre of town and is a highly visible site like the Victoria Ground, but I bet its not left like the old Vic for 11 years. Yet another issue for the chosen leader to get right!”
by Tony Boulton, Grapevine Texas
Thursday, November 06 2008, 5:13PM
“This is a tragedy for the people of Stoke. But my question is, will the US asociate company (The Royal China and Porcelain Companies Inc., which is separately owned), still be buying Spode and Worcester products direct from Asia? My guess is that it will be business as usual.”