The staff of a threatened textile manufacturer have received an early Christmas present, with the news that a rescue deal has been agreed for their factory.

Just over one hundred workers at Carrington Performance Fabrics at Dewsbury in West Yorkshire were warned in May this year that the company faced the possibility of closure unless a buyer could be found for the business. The company's owners - the IPT Group - have now confirmed that they have reached agreement for the sale of Carrington Performance Fabrics as a going concern.

The buyer is British Millerain, which is based at Rochdale in Lancashire. No-one was available at the Rochdale company to outline its intentions for the business. The deal was confirmed, however, by IPT's financial director, Douglas Waddell. He said: "A deal has been done with British Millerain, the business is being sold as a going concern and I understand that the workforce at Dewsbury will remain intact."

It is thought that some managerial and administrative positions will go as the Dewsbury factory is incorporated into its new owner's business.

Carrington Performance Fabrics produces fabrics for the apparel, sports and leisure industries. British Millerain runs a similar operation.

The strength of sterling and customers switching to overseas suppliers were blamed for IPT's decision to dispose of Carrington. The factory had reduced costs in an effort to compete, but was unable to avert IPT's decision to either sell it or close it.

The IPT Group also owns the Elton Cop Dyeing Company at Bury in Lancashire and Textured Jersey in Leicester.

By Clive Hinchliffe.