Liquidators had hoped to secure a new buyer for the mill which produces luxure cashmere goods.When no interest was expressed the decision to cease trading with immediate effect was made.
Three staff are being retained in the short term to assist winding down the business.
This is another damaging blow to the Borders textile industry which is being squeezed by competition from cheaper foreign imports.
Blair Nimmo of liquidators KPMG said:
Despite our best efforts to secure the sale of the mill we have been left with no option other than to cease all operations with immediate effect.
“Unfortunately 33 of the company’s 36 employees have been made redundant, with three staff being retained in the short term to assist in winding down the business.
“We would like to thank staff for their co-operation through this difficult process. "We will be working with employees to ensure that support to find alternative employment is available for all those who need it.”
More top news
Emergency services are dealing with an accident at Santon Bridge in West Cumbria where a cyclist has been injured.
Kerrie Gosney brings you Saturday's Pollen Count
Kerrie Gosney brings you Saturday night's forecast