A tinsel factory has shut down its production line saying it cannot compete with cheap imports from China.
At its peak, The Creative Christmas Company, in Langley Park, County Durham, employed 40 people and had a £2m turnover.
It will now move to smaller premises and become an import business with its three remaining staff.
The company was founded 10 years ago by Tom Baker, who has been making tinsel since 1978.
He said: "The Chinese currency is linked to the dollar, the dollar has got cheaper every year, we have been having cheaper holidays in America and enjoying that, but it also has the effect of making their products from China cheaper."
The company has been developing an import sideline from China with other Christmas goods like Santa suits and it is going to concentrate on this side of the business.