Wedgwood: Who can save us? (AUDIO)
THREE potential buyers are eyeing up parts of collapsed ceramic giant Waterford Wedgwood as workers fear for their futures.
Administrator Deloitte is today starting work to save up to 1,000 North Staffordshire jobs at the debt-ridden firm by finding investment.
-
Community leaders hope investment can be found so 250 years of Wedgwood manufacturing can continue. It is understood the three unidentified investors are interested in the majority of its assets.
More than 300 employees gathered at the Barlaston factory yesterday for announcements by administrators, and said they were told it is business as usual for the next four weeks.
Article continues below
Meanwhile, tears were shed among collectors at the firm's factory shop and a member of the Wedgwood family said the company will only succeed if manufacturing remains in Stoke-on-Trent.
Waterford Wedgwood called in administrators yesterday after six years of loss-making in which the group has racked up debts of almost £400 million.
Stoke-on-Trent's MPs have vowed to fight for the company, as they believe its demise would be devastating to the pottery industry and would signal the end of a key part of Potteries heritage.
Alison Wedgwood, whose husband Tom is a direct descendent of founder Josiah Wedgwood, believes a buyer could make a success out of Josiah's legacy if they followed in his footsteps – producing quality ceramics in Barlaston.
Mrs Wedgwood, aged 38, of Barlaston Road, Cocknage, said: "If any new buyers concentrate on producing prestige Wedgwood products in Staffordshire and get their marketing right they will succeed.
"If they move all production to Indonesia their biggest markets will collapse, of this I am sure."
One worker said: "They told us we've got a month guaranteed but they can only promise our jobs for those four weeks of production, after that who knows?
Wedgwood collector Margaret Kilford, of Stafford, said: "It's part of Staffordshire. It's a very sad day."
Bryan Carnes, chief executive of the North Staffordshire Chamber of Commerce and Industry, said: "It's very worrying for those people who work at Wedgwood and for those involved in the supply chain and it will also have a deep psychological effect on the Potteries."
12 Comments
View all
by AS, London
Tuesday, January 06 2009, 8:40PM
“They should get potential buyers to visit the new Wedgwood Museum that will make them realise what Wedgwood is really worth, I am sure there is a market for reproducing some of the stuff in there.
Plus if the Museum guys can run a business on the idea of Wedgwood surely someone can make money selling the stuff so you can enjoy it at home.”
by WM, Stoke
Tuesday, January 06 2009, 1:30PM
“No. I wouldn't expect Mr Caudwell to keep local businesses afloat as a charitable concern (they're entering administration because they're not turning a profit after all.)
And where does the buck stop once a local businessman starts bailing out bankrupt businesses?
Caudwell is not worth "billions" (plural) either. In fact, The Sunday Times Rich List is well known to overestimate the wealth of those listed, and most of Caudwell's "worth" won't be liquid anyway.”
by Anon, Stoke
Tuesday, January 06 2009, 1:22PM
“Les,
Doesn't that Brown fella only like bailing out the banks that won't bail anybody else out?”
by AvoidVodafone, Stoke
Tuesday, January 06 2009, 1:09PM
“Wouldn't you have thought that Mr Caudwell and his Billions along with his fantastic acumen would like to step in and help out this Iconic local brand?”
by Les, Newcastle
Tuesday, January 06 2009, 12:34PM
“Mmm - now who do we know with loads of other peoples money who likes bailing out lame duck companies whilst keeping the fat cats at the top in their jobs whilst bemoaning the 'poor workers' - yellow pages - under Brown G (lives in London)”