Newbridge Cutlery to Close Factory Amid Falling Demand and Costs

Newbridge Cutlery has announced that it will cease production of silver-plated cutlery and tableware, effective April 10, 2024. The decision follows a significant decline in demand for silver cutlery, particularly for wedding gifts, alongside a sharp increase in silver bullion prices. This closure will affect the Newbridge factory in Co Kildare but will not impact the broader Newbridge Silverware business, including its Visitor Centre, six standalone stores, or its network of 250 local stockists.

In a statement, Newbridge Cutlery described the decision as “extremely difficult” and the result of a comprehensive review of its loss-making cutlery division. The factory currently employs 11 people, all of whom have been informed of the impending closure. A consultation process is underway to support the affected staff.

The company cited several years of declining sales, attributing this trend to changing consumer preferences and dining habits both at home and within the hospitality sector. A spokesperson noted that traditional purchases, such as silver cutlery sets for wedding gifts, have become increasingly rare, contributing to a steady drop in demand.

Newbridge Cutlery was established in 1934 as a cooperative that aimed to utilize skills from a former military barracks to manufacture silver-plated tableware for the Irish market. In the 1990s, the company diversified into jewellery and homeware, operating under the Newbridge Silverware brand.

Martin Kilduff, Operations Director at Newbridge Cutlery, expressed regret over the decision, stating that the company has a long and proud history in silver cutlery manufacturing and has earned a reputation as a center of excellence in the industry. He emphasized that the announcement reflects “sustained changes in market demand” and highlighted that the decline in silver cutlery manufacturing is not unique to Ireland, but part of a broader trend across Europe.

Kilduff also pointed to a staggering increase in silver bullion prices, which have surged by nearly 150% over the past year. He stated, “Absorbing an increase of this magnitude is not feasible without significantly impacting retail pricing.”

He acknowledged the impact this closure will have on the craftsmen and women who have maintained the tradition of crafting silver-plated tableware in Newbridge for generations. Kilduff assured that the company is committed to a meaningful consultation process and aims to support affected employees through clear communication and access to appropriate resources during this transition.

As the company navigates this challenging phase, it remains focused on maintaining its commitment to quality and craftsmanship through its other business operations.