"David Sculley, Group Chief Executive, commented:
As I said in my statement in the 2008 Annual Report and Accounts, this year is pivotal for Waterford
Wedgwood. Despite immense challenges there are a lot of things that are right about this business and the Group has a future that is worth fighting for.
Anthony Jones and I have developed a comprehensive business plan designed to deliver a sustainable recovery in the financial performance of the Group. Implementation of the plan is well underway, but in order to continue with the plan it is clear the Group requires additional financing. We are currently in negotiations with a number of interested institutional investors about a possible investment in the Company on terms which, if consummated, would be different to those described in the prospectus and which, more significantly, are likely to require as a re-condition a comprehensive financial restructuring. As a result, any such investment would therefore be larger than the Company’s originally planned equity funding.
We continue to make good progress with potential investors and currently enjoy the support" December 4,2008 Interim Report

Ross translates this, with additional experience with my cloudy crystal ball (uncut and moulded)and reading the financials that what will emerge, is North America intact, being fed product by Indonesia and Eastern Europe, while the debt and high fixed costs of buildings etc, with union contracts will be stripped out by the filings in the "Isle''s" and a viable entity could exist. An American white knight will be in the mix somewhere. Ultimately once the bankruptcy is completed in Ireland / England, coal will go back to Newcastle.

Hi Fred

My point is that I would expect this publication to be a little more definitive, not file something that is "according to" especially when much more information was available at the time and simple to confirm. British papers were already in the analysis stage, but did not say anything that I saw regarding North America.It does not appear any effort was put in, nor noted, to get some additional information pertinent to North America. The New York Times had a good article, somewhere around a half hour later, but not industry specific. In short, very disappointing coverage, and any more said turns this into a rant.

Forget about what AP has to say, here is the press release:

N E W S D E N N E H Y
R E L E A S E A S S O C I A T E S
Public Relations
34 Lower Leeson Street
Dublin 2 Ireland
Telephone: (01) 676 4733
Fax: (01) 676 6865
email: md@dennehy.ie
Waterford Wedgwood plc
(“Waterford Wedgwood” or “the Group” or “the Company”)
Waterford Wedgwood plc regrets to announce that it has this morning requested that its Stock
Units be suspended from trading on the Irish Stock Exchange, with immediate effect, following
the appointment of David Carson of Deloitte as Receiver to the Company and certain of its Irish
subsidiaries and the expected appointment later today of Angus Martin, Neville Kahn, Nick
Dargan and Dominic Wong of Deloitte LLP as Joint Administrators to Waterford Wedgwood
UK plc and certain UK subsidiaries. Details of the affected companies will be set out in an
announcement to be released today by the Receiver and Joint Administrators.
The Board of Directors has for some time, and throughout the periods of forbearance last
referred to in the Company’s announcement of December 22, 2008, been focused on the
recapitalisation of the Company, and more recently on active discussions regarding the possible
investment in the Company as a going concern. The Board and executives have received
remarkable support in this effort at the highest levels from the Irish and UK governments and
certain Irish banks.
Notwithstanding the devastating effects of the global financial crisis, the Board was progressing
this valuable effort. However, following the expiration and non-renewal of the forbearance
period, certain Group companies have now been placed into receivership or will shortly be
placed into administration. The continuance of the forbearance was essential to the Group
continuing as a going concern.
David Sculley, Group Chief Executive Officer, Waterford Wedgwood plc, said: “I am
disappointed that certain of the Group’s UK and Irish subsidiaries have had to go into
administration and receivership, but we remain optimistic that ongoing discussions will result in
a buyer being found for the businesses.”
Sir Anthony O’Reilly, non-executive Chairman of Waterford Wedgwood plc, said: “I want to
commend the Board and the executives, the Irish and UK governments, our suppliers, our
customers and our employees for all of their support and efforts. The Board has acted tirelessly
in its efforts to resolve the Company’s issues as a going concern. And the principal shareholders
have invested in support of this business for almost 20 years. We are consoled only by the fact
that everything that could have been done, by management and by the Board, to preserve the
Group, was done.”
Enquiries:
Powerscourt (UK and International Media)
Rory Godson
Rob Greening
+44 (0) 20 7250 1446
Dennehy Associates (Irish Media)
Michael Dennehy
+353 (0) 1 676 4733
+ 353 (0) 87 255 6923

Plus a Google search has many more local media reports,