A TEXTILE firm has gone into administration with the loss of 136 jobs.
A buyer is being sought for carpet yarn spinner Thomas Carr Ltd, Dewsbury, in a bid to save the jobs of the remaining 260 employees.
Chairman David Liddell blamed intense competition and pressure on profit margins for the company's problems.
He said the job cuts were needed to enable the firm to continue trading while a buyer was sought.
Leeds-based insolvency firm Geoffrey Martin and Co, has been appointed administrator for the firm.
John Twizell, one of the joint administrators, said: "We are allowing the company to continue to trade while we endeavour to find a buyer for the business.
"The company has a long history and an enviable reputation, plus some top quality customers.
"The feedback we have received from them is positive and we have already received a number of inquiries expressing interest in the business."
Tony Barrow, an official of the textile group of the Transport and General Workers' Union, said the union was seeking compensation for the workers already made redundant.
He said: "We are consulting with the administrators about the prospects for the company.
"Clearly, it is a case of `fingers crossed' that it can be sold as a going concern."