BusinessBusiness RecoveryRoyal Worcester under PwC administration

Royal Worcester under PwC administration

Royal Worcester has gone bankrupt and is under PwC administration

Porcelain maker Royal Worcester & Spode has gone into bankruptcy and is
under the administration of Matthew Hammond, Rob Hunt and Mike Jervis of
PricewaterhouseCoopers
LLP
(PwC).

The news come a month after the company, which has a history dating back to
the late 1700s, denied it was seeking a rescue buyer but had called in KPMG last
April to look at restructuring options.

Hammond said the company’s inability to sell off one of its sites in
Stoke-on-Trent, together with the worsening economic climate, had forced it into
administration.

‘Our immediate priority now is to review all options for the company and
immediately seek a buyer for the business,’ he said.

Further reading:

Royal Worcester denies seeking rescue buyer

KPMG called in to rescue Royal Worcester

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