Some 300 workers have been made redundant at carpets firm Axminster after the company entered administration.
It means three-quarters of the workforce at the Devon-based company lost their jobs.
The company, which dates back 250 years, blamed a sharp increase in raw material prices and the UK's continuing economic difficulties for the decision to go into administration.
Restructuring firm Duff & Phelps, which has been appointed to run the firm, said it will continue the company's search for a buyer but said it had been necessary to make around 300 staff redundant.
More top news
The supermarket said they had listened to customer feedback and extended the deadline for customers to convert their vouchers until June.
The Labour leader criticised the government for handing out contracts to the now-defunct construction firm after a third profit warning.
A man who strangled a girl during a violent sexual attack and then hid her body in a wardrobe has been found guilty of murder.