For hundreds of years, Waterford Wedgwood has been part of the heritage of a multitude of families. It was a staple wedding gift and tableware was passed on as a family heirloom, from generation to generation. The source of that tradition may shut down soon as the tableware maker cannot shake its financial troubles:
“…The heavily indebted maker of Waterford crystal, one of Ireland’s most famous brands, also asked on Monday that its shares be suspended from trading on the Irish Stock Exchange after failing to buy more time from creditors.
The owner of British potter Wedgwood, founded 250 years ago by Josiah Wedgwood — one of the fathers of the industrial revolution — and whose tea and dinner services have graced royal tables ever since, had warned in December that it would not be able to pay interest to bondholders.”
A storied tradition will come to an end. Thousands of direct and related jobs will come to an abrupt halt. For hundreds of years, Waterford Wedgwood has been able to survive and become a household name around the world. The severity of the present economy does not spare tradition.