Pottery firm set new funding date

The company is in talks with a potential investor

The owners of pottery firm Waterford Wedgwood plc have been given until the new year to sort out its finances.

The Staffordshire firm said in August it planned 300 job cuts to reduce costs and return the group to profitability.

Bank of America has given the company until 2 January 2009 to show it has just under £15m at its disposal - a condition of loaning cash.

Waterford Wedgwood has said it was in advanced talks with a potential investor.

Bank of America is acting on behalf of lenders who are loaning money to Waterford Wedgwood.