Scottish textile group Moorbrook Textiles failed to find a buyer for two of its loss-making textile brands Robert Noble and Replin Fabrics, resulting in the closure of the March Street Mills site in Peebles.
The company announced in May that it was seeking a buyer for the mill and had started a 30-day consultation with its 87 employees. A date for final closure of the site will be confirmed shortly.
“Over recent weeks we have had discussions with a number of groups interested in purchasing the business but regrettably these have not resulted in any credible offers,” said Moorbrook Textiles managing director Ian Laird.
“We are extremely disappointed that, despite significant investment in the mill over the last 10 years, we have been unable to secure a buyer.
“We fully appreciate the impact closure will have on our employees and the local community and our focus in the coming days will be on supporting them at this difficult time.
“In addition, we will continue to work closely with our customers, suppliers and government agencies to do all we can to minimise the impact of closure.
“As part of these discussions we will begin planning for decommissioning of the site itself, as well as consulting with staff on the completion of existing customer orders.”
Robert Noble supplies high quality woven fabrics to fashion brands and retailers and can trace its origins back to 1666, while Replin Fabrics was established in 1945 and produces fabrics for the automotive and transportation industries.
Moorbrook acquired both brands in the 1990s and is a wholly-owned subsidiary of the Swedish family-owned business Lindéngruppen, which owns other firms in the art supplies, coatings, metal powders and security glass industries.
Moorbrook also owns the Scottish cashmere firms Alex Begg and Begg & Co, based in Ayrshire, which are unaffected by the closure.
Some Peebles staff may be offered the opportunity to relocate to suitable positions in the Ayr business.
The management team is looking for a buyer for the brands and their product portfolios.