Royal Worcester: ‘not seeking rescue’

Royal Worcester has denied reports in the national press that it has appointed accountancy firm KPMG to find it a rescue buyer.
The tableware company is the third-largest fine china manufacturer in the UK after Wedgwood and Royal Doulton but has struggled in the face of cheap competition and the move away from formal dining.

However, the company said in a statement: “In April of this year the company instructed its advisers KPMG to review the appropriate future funding and ownership options for the business given the impending completion of the restructuring programme.

“These options include the continued ownership by Alan Finden-Crofts or may involve him taking a minority position or selling his shares. The decision will be taken on the basis of what is right for the business.”

Accountant Finden-Crofts bought Royal Worcester in the late 1980s. He has cut costs by moving production out of Worcester, and in 2006 the company ceased manufacturing in the city.

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