ONE of Lancashire's last remaining textile firms is being sold in a bid to secure its future amid a battle with foreign competitors.

JH Birtwistle, which employs 71 staff at its factory on Grane Mill Road, in Haslingden, is in the process of being sold to Apex, which was formed to buy the textile manufacturer and Steads a dyeing business in Carlisle.

The two companies, both over 100 years old, have failed to stem multi-million pound losses over the last decade.

The prospective new owners of JH Birtwistle are hoping to diversify into more technical markets in a bid to turn around the fortunes of the company.

It is expected the deal will be complete by the end of the month.

Staff at the plant, which was bought by the John Lewis Partnership in 1988, were told last week the current owners would offload the struggling business to Apex Textiles Ltd.

The factory will continue to operate from its present site but there may be job losses in the future, a spokesperson for the firm said.

Managing director, Martin Phillips, who will be replaced and is currently in talks with John Lewis over his future, said the company had been battling against competition from Eastern Europe and Asia.

He said: "If this sale had not taken place it is quite likely the business would have closed and more jobs would have been lost.

"I am very pleased they have decided to take over because the business has been through tough times over the last 10 years.

"The new owners have a lot of experience between them.

"They can combine this with their contacts to diversify and move into more innovative areas.

"This is about taking them into more technical areas and developing fabrics such as those that protect workers when they are handling sharp metal."

Apex, registered in Manchester, is headed by managing director Mr Kidd and directors Richard Binch and Glenn Albinson.

Mr Kidd said: "We are delighted that we are shortly to become the new owners of Stead McAlpin and JH Birtwistle and look forward to combining our experience of this sector to the established platform that has been built up by the John Lewis Partnership.

"We will continue to trade with John Lewis and aim to develop new opportunities."