Waterford Wedgwood delists from London market

Beleaguered luxury goods firm Waterford Wedgwood has delisted from the London Stock Exchange.

The move, which was announced by the company on November 17th, will have a "negligible effect on shareholders", Waterford said this morning.

Waterford will continue to have its primary listing on the Irish Stock Exchange.

The company was granted a one-week reprieve by lenders until December 19th for forbearance on a review of its banking covenants after it failed to make an €8.2 million bond payment over a fortnight ago.

In a statement last week Waterford said it was in ongoing discussions "with an interested institutional investor".

Waterford Wedgwood shares were unchanged in Dublin this afternoon at .001 cent giving the company a market capitalisation of €85 million. The company's shares have fallen 95 per cent over the last 12 months.