Scottish Borders councillor Gavin Logan, said:
"Innerleithen has had more than its share of bad luck in recent years and I hope that every effort is being made to attract new businesses and jobs to the town."
"The company prided itself on its 'Caerlee Mills 100 per cent made in Scotland' label but has now fallen victim to the harsh economic tradition conditions in the knitwear industry."
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Showers turning heavy with a risk of thunder. Dry and bright start on Sunday, cloudy and wet from the west later
Scotland's First Minister said her government will seek 'immediate discussions' with Brussels to "protect Scotland's place in the EU".