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