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View Diary: Irish Workers Occupy Waterford Crystal Factory (277 comments)

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  •  From what I understand, (1+ / 0-)
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    Waterford was forced into receivership when it could not come to an agreement with its creditors. Wedgewood/Royal Doulton/Waterford is 400 million pounds in debt.
    Lenox China filed for bankruptcy in the us in November.

    I doubt if Waterford investors will get much out of this. The creditors will get paid.
    BBC says a US equity firm is the probable buyer.

    People are just not buying fine china and crystal anymore. The company can not be sustained by the uber rich.

    curiosity killed the cat, but satisfaction brought her back

    by graycat13 on Sat Jan 31, 2009 at 06:31:30 PM PST

    [ Parent ]

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