Page last updated at 14:27 GMT, Monday, 26 April 2010 15:27 UK

Wedgwood Museum in Stoke-on-Trent put in administration

Pottery at the Wedgwood Museum
Some of the museum's treasures have been described as priceless

The Wedgwood Museum in Stoke-on-Trent has been put in administration after the transferral of a £130m pension debt from the collapsed pottery firm.

A museum spokesman said the administration was a necessary step so it could seek the support of the Pension Protection Fund.

Waterford Wedgwood Plc went into administration in January last year with a pension fund shortfall.

The Stoke-on-Trent museum is linked to the firm by a shared pension fund.

Liable for shortfall

The Pension Protection Fund is a body established to provide a guaranteed minimum level of pension payments to members of eligible pension funds.

A museum spokesman said five of the Wedgwood Group Pension Plan's 7,000 members were employees of the Museum Trust when Wedgwood companies became insolvent.

"As a result, the Museum Trust is now deemed to be liable for the shortfall," he said.

Trustees are now talking to stakeholders about how its collections can be preserved, and are also determined to ensure the museum's survival.

The museum, which remains open, won a £100,000 Art Fund prize in 2009 with judges praising its ceramic collections.

Begbies Traynor has been appointed joint administrators.

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Wedgwood Museum handed 130m debt
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