Knitwear manufacturer Pennant Clothing is shut down its factory in Belper, Derbyshire, cutting 117 jobs in the process.

The company, a former knitwear arm of apparel brand Jaeger under Coats Plc, informed employees of the decision on Tuesday.

It said it hoped to complete customer orders through to the end of June before closing the plant.

"Despite the high quality of knitwear produced and the support of its largest customer Marks & Spencer Plc, the operation has been unable to attract and/or maintain sufficient other business to reduce loss," managing director David Ackerman said in a statement.

"The company deeply regrets the impact this will have on employees individually."
"Many of them have given years of loyal service."

A representative of knitwear and footwear union KFAT met with Pennant employees at the Belper site on Monday.