A historic Keighley mill is set to close with the loss of up to 150 jobs.
British Mohair Spinners has announced its plans to move out of its Grove Mill site at Ingrow.
Managing director Richard Stork yesterday told the Keighley News that some workers may be redeployed at the firm's other sites around the district.
No date has been set for the closure and Mr Stork was due to discuss the timetable today with union officials.
Workers began on short-time this week.
Workers were told of the closure at a mass meeting last week at the same time as an announcement was made at the London Stock Exchan-ge.
The firm says its unit in Keighley, which produces mohair and other yarns for clothing, has run at a loss for a number of years.
Sister company Jarol Ltd, which spins hand-knitting yarns in Bradford, will also close, but production of mohair furnishing yarns in Shipley will continue.
Mr Stork says the consultative procedure for redundancies has not yet started.
He added: "It's likely that most jobs will go, but it's not definite. We are exploring the possibility of retaining some of the plant at our other sites.
"We're very much hoping there will be opportunities for some people either to transfer within other divisions of British Mohair Spinners or within the group."
The firm will also explore opportunities for using the Ingrow mill rather than selling it. "It won't sit and deteriorate," says Mr Stork.
A statement issued by British Mohair Spinners says the firm's board is pursuing other opportunities for its Keighley and Bradford properties.
It adds: "Subject to the satisfactory realisation of assets from the closures, the board intends to make a return of surplus funds to shareholders."
Iain Copping, director of Keighley Business Forum, urges employees to take advantage of the forum's extensive contacts and services such as training and business advice.
He says: "We're very sorry to see a company of such long-standing going. The people invollved may need to come along to us to see what's available.
Anyone interested should phone Pam Ryder on 671870 or go along to the forum's Lawkholme Lane offices.
Converted for the new archive on 30 June 2000. Some images and formatting may have been lost in the conversion.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article