Administrator Deloitte finds substantial deficit in pottery firm’s pension fund as sale of the business is finalised.
Deloitte, who was appointed administrator after Waterford Wedgwood hit the rocks in January, has reported an estimated £2.238m pension fund deficit for the Staffordshire-based company.
US private equity firm KPS Capital Partners yesterday finalised the deal to acquire Wedgwood, although details of the buyout have not yet emerged.
As a reassurance, the government has confirmed that 90% of money in the pottery firm's pension fund will be protected.