Waterford Wedgwood is bankrupt

After 250 years in business, the maker of Waterford crystal, Wedgwood and Royal Doulton fine bone china, and Rosenthal porcelain is now in administration with shares trading on the Dublin market at €0.001. They are described as a victim of the economic downturn, but it appears that problems have been ongoing for years, as demand for its products has declined. One would think that the durability of the products, and the degree to which they are passed from generation to generation would eventually dampen the need for new material.