Dozens of jobs in the Scottish Borders could be lost, as an historic knitwear company has revealed it is holding a consultation into its future.
Representatives from Peter Scott Knitwear say the company is considering ceasing all production at the Hawick headquarters on Buccleuch Street.
The move could result in up to 50 jobs being cut, with the majority of those employed at risk of redundancy.
In a statement, the company says the option is being considered because "the previous restructuring programme and ongoing sales performance had failed to produce the projected financial results."
They say trading remains difficult, and income hasn't increased enough to maintain staffing levels.
The statement concludes:
- The history of Peter Scott Knitwear
Peter Scott Knitwear was established in Hawick in 1878 to produce luxury cashmere goods.
The company traded successfully for more than a century, but ran into difficulties when the UK economy entered recession.
Things were looking up in 2009, when they struck a multi-million-pound deal with Peek and Clopperberg.
But in May 2010 the firm entered administration with the loss of 120 jobs.
They blamed the job cuts on orders drying up, due to a reduction in spending on luxury goods.
There was good news in July 2010, as the company was bought by Gloverall Plc, saving 20 jobs.
Three years later £250,000 was invested in new machinery, and the employment of ten new members of staff.
However, today Peter Scott Knitwear announced that the company will hold a consultation to consider its future in Hawick, and this could result in the loss of up to 50 jobs.