Textile maker Desmond & Sons is to close its Springtown and Dungiven trouser factories with the loss of 315 jobs.

In a statement released earlier this week, the company said market conditions were to blame for the move.

"Retailers have to respond to consumer preferences in order to maintain and grow market share and that has meant offering the right products at a price the consumer is prepared to pay," a company spokesperson said.

"The consumer's desire for enhanced products at keener prices increasingly dictates that garments have to be made abroad and this price factor has led to a situation where both the Springtown and Dungiven factories have recently been sustaining operating losses.

"We regret that employees who have given the company loyal service for many years will lose their jobs."

Desmonds, which will continue to employ about 1500 people in Ireland, said it would work closely with statutory agencies and other companies to help the sacked workers find alternative employment.