Newbridge Cutlery Stops Silver Tableware Production After Strategic Review

The Newbridge Cutlery Company said today it will stop production of silver-plated cutlery and tableware at its factory in Newbridge in Co Kildare. The factory, which employs 11 people, will officially cease operations on 10 April. Founded in 1934, the company said that given its long and proud heritage in the industry the decision to close the factory was an extremely difficult decision and came after a comprehensive strategic review of the loss-making cutlery business. The company said the closure of the factory will not affect the broader Newbridge Silverware business which will continue to operate as normal. This includes the Newbridge Visitor Centre in Newbridge, its six standalone stores and the 250 local stockists of Newbridge Silverware around the country. A consultation process with impacted workers is underway, the company said. In a statement, the Newbridge Cutlery Company said today's decision follows several years of falling sales due to reduced demand for silver-plated tableware such as cutlery driven by changing tastes and dining habits at home and across the hospitality sector. "Traditional purchases like silver cutlery canteens for wedding gifts have also become increasingly rare. This has resulted in a steady decline in sales and demand for this product," the company said. The Newbridge Cutlery Company opened as a local co-operative in 1934 with a view to leveraging skills from the former military barracks to craft silver-plated tableware for the Irish market. In the 1990s the company expanded into the jewellery and homeware market which operates under the Newbridge Silverware brand. "We have taken the difficult decision to cease operations at our cutlery factory from mid-April. Since 1934, we have built a long and proud history in silver cutlery and tableware manufacturing and have earned a reputation as a centre of excellence in the industry. Today's announcement reflects sustained changes in market demand, and it is with deep regret that we are ceasing operations," Martin Kilduff, Operations Director at The Newbridge Cutlery Company, said. He said the decline of silver cutlery manufacturing is not unique to Ireland and has been a long-term, Europe-wide trend in line with changing consumer tastes. "In addition to this, over the past 12 months, the price of silver bullion has risen by approximately 150%. Absorbing an increase of this magnitude is not feasible without significantly impacting retail pricing. This is a challenge currently being faced across the entire industry," he said. "We fully understand the impact this decision will have on those craftsmen and women who maintained the tradition of crafting silver plated tableware in Newbridge for generations," Mr Kilduff said. "We are committed to a meaningful consultation process and to supporting affected employees through clear communication, engagement with their representatives, and access to appropriate supports during this time," he added.