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[January 2001]
Buyer sought for major UK pottery in receivership
PricewaterhouseCoopers, the receivers of Staffordshire Tableware (Meir, Stoke-on-Trent, England), have put the business and assets of the company up for sale in a bid to secure a future for the business, which began in 1860. Following the New Year holiday, the receivers have started to contact likely interested parties with a view to finding a buyer for the business and advertisements will appear shortly in the media. The business will continue to trade while a buyer is sought.
As expected, the receivers have taken steps to restructure the business and on 3 January 2001 they announced the loss of 300 manufacturing jobs. Approximately 50 other staff will also be affected. These moves will, temporarily at least, lead to the cessation of dinnerware production at the Meir Park plant. Mug production is being cut by approximately 50% in an effort to align production volumes with the expected level of sales in the short term.
Stuart Mackeller, a director at PricewaterhouseCoopers in the Midlands, said: "Our strategy is to allow the business to continue to trade with a view to selling it as a going concern. Interested parties should contact us without delay."
"We are very sad to have to announce job losses today. The workforce have worked very hard to gain efficiencies by changing working processes and practices. Unfortunately, however, the external factors affecting the whole industry have more than offset the good results achieved by Staffordshire Tableware."
Alistair Grove, Edward Klempka and Stuart Mackeller of PricewaterhouseCoopers were appointed joint administrative receivers of Staffordshire Tableware Ltd on 28 December 2000. The company operates from a 17-acre site at Meir Park, Stoke-on-Trent.
Staffordshire Tableware manufactures and distributes ceramic mugs, chinaware and dinnerware to the UK and export retail markets and employs 630 staff.
For more information relating to this receivership, call Stuart Mackeller on: +44 (0)121 200 3000.
ENDS