A Co Down textile firm is to make 97 staff redundant. Yesterday administrators were appointed to Regency Spinning in Newtownards.
The firm - a subsidiary of Regency Carpets which employs approximately 113 people - has incurred significant trading losses over the last few years.
Despite substantial investment in new equipment together with an active development programme the business had experienced significant competition from overseas, a spokesman for the company said.
"This coupled with a depressed domestic market and change in trends from wool to synthetic products has meant that it is no longer financially economical to keep manufacturing going in the longer term," he said.
He added: "We are currently assessing the future of the company but it is looking increasingly likely that the production plant will close in the near future.
The union representing the workers says the company plans to make 97 people redundant with the other 15 being kept on to run the factory and clear up orders.