Up to 500 jobs at Waterford Wedgwood's Irish crystal operation could be lost if the US fund that is bidding for the company succeeds in buying it. The luxury crystal & tableware group's banks placed it in receivership on 5 January 2009. It is estimated to be EUR 336M in debt. NY-based private equity fund KPS Capital subsequently showed interest in buying the business, prompting hopes that its Irish manufacturing base in Waterford, & jobs of its 800 workers, could be saved. However, it is understood that KPS is only prepared to guarantee that it will take on about 300 of those 800 workers, although it has said it may require more. In addition, it will only commit to taking on the entire Waterford premises for 1y & is not willing to take on any liabilities with the business.
