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For Waterford Wedgwood, it’s Business as Usual in the U.S.

U.S. division says it’s not encumbered by British bankruptcy issues; parent company receives letter of intent for private equity funding

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Waterford Wedgwood plc (Dublin, Ireland), the iconic maker of classic china and crystal that declared bankruptcy in the U.K. last week, has said its operations in the U.S., which also include Royal Doulton, are not encumbered by the receivership and administration processes in Ireland and the U.K. and will proceed uninterrupted.

“Our business continues uninterrupted and we wish to recognize and acknowledge the support we have received from our consumers, customers, retail partners and brides throughout the U.S.,” said Peter Cheyney, director of corporate communications for Waterford Wedgwood USA (Wall, N.J.). “We assure them that all our suppliers continue to cooperate; that we are busy fulfilling orders and that we are confident that we will maintain the business into the future.”

In the meantime, the British parent announced it has entered into a letter of intent with KPS Capital Partners LP (New York) to provide financing for the bankrupt company. KPS Capital Partners manages the KPS Special Situations Funds, a family of private equity funds with committed capital in excess of $1.8 billion.
 

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