64° P/SUNNY,
Business
LONDON
China, crystal firm in bankruptcy
Published: Tuesday, January 6, 2009 at 4:21 a.m.
Last Modified: Tuesday, January 6, 2009 at 6:08 a.m.
Last Modified: Tuesday, January 6, 2009 at 6:08 a.m.
Waterford Wedgwood PLC, the maker of classic china and crystal, filed for bankruptcy protection on Monday after attempts to restructure the struggling business or find a buyer failed.
Waterford Wedgwood, which employs around 7,700 worldwide, is the latest in a burgeoning list of iconic British companies to succumb to the global economic slowdown and credit squeeze.
Wedgwood has been an iconic name in British pottery for 250 years, and Waterford Crystal traces its lineage to a factory opened in Waterford, southeast Ireland in 1783.
-- Associated Press
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