A BURY textile firm which last year celebrated its centenary has lost its fight for survival.

Despite hopes of an eleventh hour reprieve, dyeing company Elton Cop will finally close its doors on Friday (Feb 2) with the loss of 80 jobs.

The shutdown will bring to an end 101 years of operations at the company's Walshaw Road headquarters and mark the latest obituary notice to be posted for Bury's ailing textile base.

Managing director Tony March said: "It's very sad. The vast majority of the employees are leaving at the end of the week and production will cease on Friday.

"During the past year, I've been actively involved in trying every conceivable method of selling the company, re-organising it and consolidating the company."

He disclosed: "Twice we got incredibly close to achieving this, but twice it didn't quite go through. We scoured the world to try to find a suitable partner." Mr March added: "Elton Cop has been good at what it's done. But at the end of the day, if it can't make money, where do you go?"

In January, bosses disclosed the business was facing closure after fighting a losing battle against dwindling business, cheap imports, increases in raw materials and energy prices and a downward price pressure from UK retailers.

The Bury company made its name as dyeing specialists at the quality end of a highly competitive and demanding marketplace.

The largest dyer of complex cotton and cotton blends in the UK, Elton Cop supplied the hosiery, knitwear and colour wovens markets.

Latterly, Elton's core customers were supermarkets, including Asda and Tesco.

Earlier this month, however, company chiefs admitted Elton had been in "financial difficulties" for some time due to a steady decline of its traditional knitwear and hosiery business, much of which had moved offshore.

Last year, in a bid to boost its viability, Elton Cop had halved its workforce and introduced a series of measures which led to "significant improvements" in financial performance being achieved.

But these were insufficient to prevent losses from continuing to be incurred.

Elton Cop was founded by John Brandwood in 1900. The company had resided within the fashion division of IPT (International Performance Textiles).

Last year, IPT closed down Ramsbottom-based linings company Morada with the loss of almost 50 jobs.