Is this the end for Wedgwood?

MORE than 1,000 North Staffordshire jobs are at risk after two of the most famous pottery brands in the world collapsed into administration.

Last-ditch attempts to come up with fresh cash before lenders lost patience with debt-ridden Wedgwood failed, and at one minute past midnight today administrator Deloitte was called in.

Barlaston-based Wedgwood owns Royal Doulton, and the downfall of two internationally-recognised brands will be seen as one of the highest-profile symptoms so far of the global recession – even though commentators have doubted Irish-owned Waterford Wedgwood Group's viability for some time.

Sir Anthony O'reilly, non-executive chairman of Waterford Wedgwood, said: "I want to commend the board and the executives, the Irish and UK governments, our suppliers, our customers and our employees for all of their support and efforts.

"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."

Deloitte will now try to find a buyer for the business, but even before today's news, Waterford directors had confirmed they would be shifting more production from North Staffordshire to Indonesia in a bid to cut costs.

The fall into administration cast further doubts on the future of more than 1,000 jobs at the Barlaston plant.

The group had net debts of £376 million.

David Sculley, group chief executive officer at Waterford Wedgwood, said this morning: "I am disappointed, but we remain optimistic that ongoing discussions will result in a buyer being found."