Waterford Wedgwood to cut 367 jobs in Britain

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The administrators from accountancy firm Deloitte, who were appointed to run the company under bankruptcy protection last week, added that discussions with potential buyers of Waterford Wedgwood's assets continued.

Administrators said last week that they had reached a tentative agreement with U.S. private equity firm KPS Capital Partners over the sale of many of the company's assets, but they provided no specific update on that prospective deal on Monday.

"The business will be continuing to trade as normal, and the administrators are continuing discussions with parties who have expressed an interest in purchasing the business," said joint administrator Angus Martin. "Every effort is being made to avoid further redundancies across the business."

The majority of the redundancies announced today will come from the company's manufacturing site in Barlaston, central England. The company, which has its roots in a pottery factory in central England and a crystal factory in southeast Ireland, employs just under 2000 people across Britain and some 7700 worldwide.

The company filed for bankruptcy protection on Jan. 5 after failed attempts at a restructure or a sale, and administrators were appointed to run the business.

On Thursday, it said it had signed a "letter of intent," a nonbinding agreement, with KPS about certain assets of the brands Waterford, Wedgwood, Royal Doulton and others.