China firm goes into administration

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Midlands-based Royal Worcester & Spode Ltd, which dates back to 1751, employs 388 people in the UK at sites in Stoke-on-Trent, Lymedale and Worcester.

The firm blamed the situation on a failure to sell its site in Stoke combined with the current economic downturn.

Matthew Hammond, Rob Hunt and Mike Jervis of PricewaterhouseCoopers LLP were appointed joint administrators to the company. The administrators said they were trying to secure a buyer for the business.

Royal Worcester & Spode sources, manufactures and sells earthenware and china products from its three British sites as well as one in North America.

Its US trading subsidiary, The Royal China and Porcelain Companies Inc, does not come under the UK administration.

"The UK will continue to work with the US management team who remain autonomous," PwC said.

Mr Hammond, joint administrator and partner at PricewaterhouseCoopers LLP in Birmingham, said: "The company has been undertaking a restructuring of its business in recent years. This has included reductions in overhead, transition to more cost effective outsourcing of production, relocation of warehousing, new product development and the sale of property to reduce debt.

"However, the inability to complete the proposed sale of a site of strategic importance in Stoke and the effect of the current economic downturn on sales has led to the decision by the directors of Royal Worcester & Spode Ltd to place the company into administration.

"Our immediate priority now is to review all options for the company and immediately seek a buyer for the business. During this process we will work with the company's suppliers, employees and customers to try and ensure that a solution is found to provide a structure to take the business forward. We are working with all stakeholders and will be continuing to use the company's extensive retail network and store concessions to supply customers with the full range of products which are in good supply."