Launceston based textile firm James Nelson is likely to be taken over by its group of employees.
The purchase is being negotiated for the firm, run by Pila family, which bought the business 24 years ago when it was facing closure.
The company manufactures blinds, curtain fabric and industrial fabric with around 50 employees.
Owner Joseph Pila says the family has taken great pain in keeping the business going and they are very pleased it will continue under different owners.
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