Waterford Wedgwood calls in administrators

AILING crystal and china maker Waterford Wedgwood today called in administrators to its UK arm and parts of its Irish business.

The Barlaston-based group – best known for Wedgwood pottery, Royal Doulton and Waterford crystal – collapsed after talks over a possible investment in the business failed and lenders' patience ran out.

Chief executive David Sculley said he was "optimistic" a buyer for the businesses could be found.

Non-executive chairman Sir Anthony O'Reilly added: "We are consoled only by the fact that everything that could have been done, by management and by the board, to preserve the group, was done."

More on this story will follow.