Fruit of the Loom is the one of the largest manufacturing employers in Ireland, with about 3,500 employees working between its seven plants in Donegal and Derry. It manufactures underwear, sportswear and other clothing for sale in the European market.

The US Fruit of the Loom corporation owns 100 per cent of the Irish businesses, having bought into Mr Willie McCarter's family textile business in Donegal in 1987. It initially bought a majority stake in the firm at a time when it was facing financial difficulties.

The US corporation then gradually raised its stake by buying out various members of the McCarter family. The McCarters' family business was set up in Buncrana more than 60 years ago.