Wedgwood Collection saved after historic deal agreed

THE world-famous Wedgwood Collection of art, pottery and writing in Staffordshire has been saved from auction after a crucial deal was agreed to secure its future.

Following four years of negotiations with creditors, Government ministers and national art organisations, administrators Bob Young and Steve Currie, of Begbies Traynor have succeeded in securing the sale of the historic collection, which entered administration in 2009, to national charity the Art Fund following a major fundraising appeal.

The Wedgwood Museum, which features artefacts dating back 250 years, entered administration after owner Waterford Wedgwood Potteries went into liquidation, prompting the transfer of the company’s £134m pension debt to the museum’s trust. This is in turn placed the future of the collection in doubt.

However, after years of make-or-break meetings Mr Young, partner at Begbies Traynor’s Stoke-on-Trent office, has gained agreement from creditors for the sale of the collection to the Art Fund following the national art charity’s successful Save Wedgwood Appeal.

The Art Fund will now “gift” the collection to the V&A Museum, which means that the 80,000 pieces valued at £15.74m will remain together under one roof, in Barlaston near Stoke-on-Trent, as an asset for the nation to enjoy.

The past few weeks has seen intense fundraising with public donations flooding in in an attempt to save the collection from being broken up.

Staffordshire excavator manufacturer JCB was one of those to get involved, pledging £100,000 to the appeal.

TheBusinessDesk.com had also given its support to the Save Wedgwood Appeal.

Bob Young said: “We are absolutely delighted that the Art Fund has been able to raise the necessary funds in order to buy the Wedgwood Collection. Throughout my handling of this case, I have been very aware of the importance of keeping the collection together due to its national, and even global, historic significance.

“At Begbies Traynor, we have played a pivotal position in balancing the interests of all parties with the aim of ensuring an outcome with which people are happy. I’m confident we have done exactly that.

“The real heroes, however, are the ordinary people and businesses across the country who have seen the value of preserving our heritage and dug deep to support the appeal. I would like to thank everyone who has contributed to the effort to save the Wedgwood Collection, and it’s great that it is going to remain at its spiritual home at the Barlaston site founded by Josiah Wedgwood V.”

For the past two years the administrators have worked with local MPs, Culture Minister Ed Vaizey, the Art Fund, and the Heritage Lottery Fund, in order to protect the collection from being broken up.

Administrators created the opportunity for the Art Fund to buy the collection by negotiating with creditors and securing a workable fundraising timescale. With the charity having already secured £13m in funding, the appeal was launched in early September, with the aim of raising the final £2.74m.

The museum has remained open throughout the four years of the administration.  It is scheduled to close for a short period over the New Year as part of the redevelopment of the Wedgwood estate but it is anticipated that the Wedgwood Museum will reopen in the spring of 2015 and will form part of a new visitor centre being created by Waterford Wedgwood Royal Doulton.

The V&A will assume responsibility for the collection in perpetuity.  It is expected that the V&A will loan the precious works to Waterford Wedgwood Royal Doulton under an operating agreement currently being drawn up with a view to it remaining at its long-standing Barlaston site.