Bluestar Fibres in Grimsby: Up to 175 jobs could go
Nearly three-quarters of the workforce at a factory in Grimsby could be made redundant, according to company bosses.
Bluestar Fibres said "the economic downturn and a subsequent reduction in demand" meant it was considering stopping production at its Moody Lane site.
The company, which makes carbon fibre components, said this would mean up to 175 of its 238 employees could be made redundant.
A 45-day consultation period has begun.
Chief executive Hendrik Muller said: "We will be preserving the plant facilities to enable us to potentially restart production subject to market conditions improving.
"But our focus in the meantime will be on the welfare of the workforce, helping them through a difficult time and ensuring that we look after them as much as we can and help to prepare them for new employment opportunities in the local region."