Textile group Farago has gone into administration, with accounting firm PricewaterhouseCoopers currently overseeing the sale of its East Midlands-based businesses.

The company, one of Britain's largest textile firms, supplies fabrics to such high street retailers as Marks & Spencer, New Look, Next, BHS, Laura Ashley and George.

Its activities include fabric production, dyeing, finishing, printing and apparel manufacturing.

Businesses for sale include knitted fabrics producer Farago Ltd and dyeing firm Long Eaton Textile Services Ltd, both of which boast an annual turnover of about £12 million, as well as Apex Dyers and Finishers Ltd, which has a yearly turnover of about £3.5m.