Pottery firm joins list of high street names falling over Christmas period
05 January 2009
Pottery company Waterford Wedgwood is the latest firm to reveal it is calling in administrators, after a number of high street names went into administration over the Christmas period.
The ceramics and china firm, the origins of which date back 250 years, announced today that it has suspended trading from the Irish Stock Exchange and has appointed Deloitte to act as administrator.
The company is based in Ireland, but employs 1,100 people in a factory in Stoke-on-Trent.
In December, music retailer Zavvi, children’s clothing chain Adams, menswear chain The Officers’ Club, womenswear retailer Morgan and tea and coffee chain Whittard of Chelsea announced they had called the administrators in, putting a total of about 9,000 jobs at risk.
The CIPD has predicted that 2009 is shaping up to be the worst year for jobs in two decades. The institute’s annual Barometer Report warns of possible job losses totalling 600,000 this year.
Charles Cotton, CIPD adviser, reward, said: “More than ever, this is a time where organisations need to engage in an open and straightforward communication with staff, clearly explaining the reasons for any difficult measures that will affect them. This will help preserve staff loyalty and engagement even during times when unpopular decisions need to be made.”