A COLNE Valley textile firm is set to close with the loss of all 120 jobs.
Administrators at Globe Worsted have told stunned staff they expect to start making redundancies from December 23.
Workers were told there was only a slim chance of finding a buyer for the Slaithwaite-based business.
One shocked worker said the news was what they had dreaded.
"It is a terrible blow, especially at Christmas. We have been told we could be out of a job on December 23.
"I have worked here for many years and we have been like one big, happy family.
"People have lived their lives together, in and out of work.
"It has always been one of the biggest mills in the Colne Valley and still is.
"It is a sad day. We have had our share of problems in the past, when orders have dried up, and what makes it worse is that we know the firm has plenty of orders in now."
Globe Worsted and Kirkheaton-based sister firm Huddersfield Fine Worsted went into administration in August.
It is understood the administrators at Leeds-based Bartfields are continuing to seek buyers for HFW.
About 120 people work at Globe with another 140 at HFW.
No one was available at Bartfields to comment today.
Administrators had hoped to sell both businesses as going concerns. The firms were said to be trading profitably and had orders on the books.
Textile union official Tony Barrow said: "If someone was going to buy Globe they would have done so by now.
"What will happen is that the assets will be sold piecemeal - and that's another textile company gone.
"Fingers crossed that there is a better future for Huddersfield Fine Worsted."