Waterford Wedgwood bought by US private equity firm KPS

KPS acquired the ceramics and crystal retailer and wholesaler, which fell into administration on January 5, through newly formed company WWRD Holdings.

Administrator Deloitte said the company will acquire “certain UK and Irish assets of Waterford Wedgwood and the assets of several of its UK and Irish subsidiaries”.

In January, Deloitte revealed it had entered into a letter of intent with the New York-based private equity firm to buy the business, which employs 1,900 staff in 19 shops and more than 100 concessions in the UK alone.