Financially troubled textile firm Farago Group has axed about 90 workers across its Long Eaton Textiles, Farago, Apex Dyers & Finishers and Paragon Prints subsidiaries.

The company, three businesses of which went into administration last month, said Thurmaston-based screen printer Paragon had been closed by administrators PricewaterhouseCoopers (PWC) with the loss of 10 jobs.

It added that a further 70 jobs had been cut at Beeston-based Long Eaton, while a total of 10 jobs had gone at Leicester-based businesses Farago, which produces knitted fabric, and dyeing firm Apex.

According to PWC East Midlands spokesman Stuart Maddison, the sale of Farago and Apex to an interested party was due to be completed as early as today.

"We are in an advanced stage of discussions with an interested party for both companies," he said.

"We are looking to conclude by the end of the week or Monday."

However, he said he didn't see any prospect of selling Long Eaton as a "going concern," and that the business would most likely be wound down.