wedgwood museum

Wedgwood Museum In Administration Over Pension Debt

England's Wedgwood Museum could be forced to sell some of its exhibits. The museum website says that the Wedgwood Museum Trust Ltd has been placed into Administration but that the Wedgwood Museum will remain fully operational and open to the general public as usual. BBC News reports that valuable pieces from the museum in Stoke-on-Trent could be seized by creditors and sold because of a pension fund debt. Waterford Wedgwood went into administration last year, with parts of the business later bought by a US firm but it was the Wedgwood Museum Trust that inherited the £134 million pension debt of the whole company.

The question is whether or not the assets are held in trust by the museum or whether they're available for creditors to pillage. The Wedgwood Museum opened in 2008 and is home to an exhibition of more than 250 years of the company's history. Because five of the museum trust's staff were in the same pension plan as the employees of the whole pottery company somehow the museum got left holding the bag. The prize-winning museum hopes to be able to keep its valuable assets intact and to keep the museum open to the public. Wedgwood was founded in 1759, but Waterford Wedgwood was created in 1987. It went into administration in January 2009.

Tags: england, museums, wedgwood, wedgwood museum

wedgwood museum

Wedgwood Museum In Administration Over Pension Debt

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