Hope for glass company

From the archive, first published Thursday 27th Jul 2000.

Royal Brierley bosses are hoping to save the ailing 224-year-old glassmaking firm after an interested company pulled out of a takeover deal.

Directors at The North Street firm had been in talks with Michael Joseph and David Grove at The Kenmore Group in Birmingham for more than two months but the proposed deal has fallen through.

Royal Brierley has now recruited chartered accountants to construct a financial rescue package, which will see the historic firm completely restructured.

Chairman Richard Katz said: "The refinancing package is based on realisation of valuable underlying assets, including property.

"Royal Brierley's future is no longer dependent on the sale of the company.

"The last few months have been extremely difficult for all those directly involved with Royal Brierley and the continued loyalty of staff, suppliers and customers has been quite extraordinary."

The Kenmore Group owner, Mich-ael Joseph, said: "With great regret we were unable to meet the financial criteria we set out.

"We are very sorry to disappoint the many skilled and dedicated people in the business."

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