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Linklaters has been named adviser to the administrator of another failing UK business, with Deloitte instructing the firm on the administration of luxury goods maker Waterford Wedgwood.
Linklaters has been named as adviser to the administrator of another failing UK business, with Deloitte instructing the firm on the administration of luxury goods maker Waterford Wedgwood.
Insolvency partner Rebecca Jarvis is leading the team advising Wedgwood’s UK receivers Neville Kahn, Angus Martin, Nick Dargan and Dominic Wong. Irish receiver David Carson is being advised by A&L Goodbody partner Mark Traynor.
Linklaters has close ties to Deloitte’s Kahn, having most recently advised him as receiver to the retail arm of high-street store Woolworths. Linklaters partners David Ereira and Richard Bussell advised on that transaction, (27 November).
In the run up to being placed into administration Wedgwood, which has businesses in Ireland and the UK, was being advised by Slaughter and May and Ireland’s William Fry. At Slaughters partners Ian Hodgson, Andrew Jolly and Sanjev Warna-kula-suriya led the team while William Fry partner Brendan Cahill advised the Irish businesses.
Both firms have longstanding relationships with Wedgwood and last September advised the company on an equity issue. With three of Wedgwood’s 13 UK businesses not in administration it is likely that Slaughters will receive further instructions from the company.
Deloitte is currently looking for buyers for the Wedgwood businesses that have been put into administration. These include Josiah Wedgwood & Sons, Royal Doulton and Stuart & Sons.
Wedgwood, which has been a brand in the UK for more than 250 years, merged with Waterford Crystal in 1987 to create Waterford Wedgwood.