1783

George and William Penrose found Flint Glass Works, a crystal manufacturing business in Waterford, hiring 50 skilled artisans from across Europe to produce "plain and cut flint glass, useful and ornamental". The company becomes a visible sign of the industrial revolution in Ireland.

1850-1851

The Waterford business hits its first rough patch in the mid-19th century, when new taxes were levied on the import and export of crystal.

Owner George Gatchell, son of former owner and apprentice Jonathan Gatchell, writes that he "must now either get a partner with adequate capital, sell or stop work finally".

The original glass factory closes its doors and remains shut for a century.

1947-1951

Joseph McGrath and Joseph Griffin revive the Waterford tradition, opening a small factory in Ballytruckle, not far from the site of the original Penrose operation, and later building a new factory in Johnstown, Co Waterford.

1986

Waterford acquires Josiah Wedgwood and Sons, an English ceramics manufacturer that dates back to 1759, and Waterford Wedgwood is formed. But as competition from cheaper brands heats up, the luxury goods group's share of the glassware market begins to shrink.

1990

An investment group headed by Sir Anthony O'Reilly together with his private investment vehicle Fitzwilton and US merchant bank Morgan Stanley take a 29.9 per cent stake in Waterford Wedgwood for £100 million. Cutbacks at the crystal plant, which see the workforce reduced from 3,000 to 1,200, prove painful, with a long and bitter 14-week workers' strike.

1993-1996

Under former Guinness chief Paddy Galvin, the group recovers from heavy losses. The Waterford name continues to be regarded as a prestigious crystal brand internationally: the US market comes to represent about 70 per cent of the company's sales. O'Reilly becomes chairman in 1994, but his original investment proves to be just the first of many such cash injections.

1999

Waterford Wedgwood buys a 15 per cent stake in British rival Royal Doulton.

2000

The company shakes off signs of an emerging recession in the all-important US market to post its highest ever sales to date, which exceed €1 billion.

2001

The brand's popularity begins to slide, with the sales decline exacerbated by the economic effects of the September 11th terrorist attacks. Profits fall 50 per cent.

2003

Shares tumble as the company behind Bloomingdale's and Macy's - large vendors of Waterford Wedgwood's wares - issues profit warnings due to economic uncertainty ahead of the war in Iraq.

A weakening dollar also hurts earnings.

Around 3,000 jobs, a third of its workforce, are cut in total between 2001 and 2003.

In November, the company holds a rights issue to raise finance.

It turns out to be the first of five such rights issues over the next five years, which bring in around €400 million in funding.

2005

Sales continue to falter as Waterford's classic cut-crystal patterns seem out of kilter with the tastes of modern apartment-dwelling dinner party hosts.

The group implements a new restructuring plan, which will see 1,800 jobs axed. The plan includes the shutting of its Dungarvan factory.

O'Reilly and his brother-in-law Peter Goulandris double their stake in Wedgwood to 51 per cent after other investors decline to take up the company's latest rights issue. Peter Cameron takes over as chief executive, promising that a recovery is nigh.

2007

The year starts well, with Waterford Wedgwood boosted by its best seasonal sales in five years and more celebrities are snapped up to promote the brand.

But the company runs out of cash and cannot fulfil its Christmas orders. In December, Waterford Crystal announces in December that it is seeking 490 layoffs from its Kilbarry plant as it plans to outsource production to lower cost locations.

2008

More profit warnings ensue and a weary chief executive Peter Cameron resigns. Waterford Crystal asks for State aid, arguing that it would be akin to the financial sector bailouts.

In October, the company says it wants to reduce its Waterford workforce by another 280 people.

2009

After new funding sources dry up and the company fails to find a buyer, Waterford Wedgwood goes into receivership.