Perhaps now the right people will realize we are in a down economy (globally). Waterford Crystal (actually the company is called Waterford Wedgwood PLC) has filed for bankruptcy.
Waterford has been an iconic name for over 250 years. It is the crème de crème when it comes to glassware. It seems people are cutting back on the high-end pottery (I wonder if they are selling more Dixie Cups?).
The dirt?
Waterford is hoping to sell the company. The stock is at one-tenth of one cent and certainly its 7,700 employees are hoping for a positive outcome other than a nice dinnerware set for severance.
Waterford is just one of many British companies feeling the pain lately. Woolworths (department store), Whittard of Chelsea (tea maker), and Royal Worcester (ceramics) are already in bankruptcy protection.
As priorities and expendable incomes change, I suspect this is only the beginning of high-end product manufactures going out of business.
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