A knitwear firm says it is considering cutting 400 jobs at two of its factories in the East Midlands.

Leicestershire-based Richard Roberts Knitwear blames the high value of the pound and fierce global competition for the possible layoffs.

The factories under threat are in Derbyshire at Riddings and Ilkeston.

The company says it has started a consultation with employees and unions to decide exactly what will happen.

Overseas competition

One of the threatened factories, Charnos knitwear in Ilkeston, was bought by Richard Roberts nine months ago.

The Knitwear Footwear and Apparel Trades (KFAT) union is blaming the cutbacks on Marks and Spencer's decision to switch orders to overseas producers.

KFAT spokesman Barry Morris said: "The union is arranging to speak to the DTI next week to see if they can do anything.

"The general secretary Paul Gates has already spoken to the minister, Patrica Hewitt, so we are trying to do many things very quickly."

Last week, the owners of Jaeger textiles in Belper, Derbyshire was put up for sale sparking fears another 400 jobs could be lost there.