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They will learn two days before Christmas Day if Deane Apparel's proposal to close will go ahead.
The family business was founded in 1932 and has offices in Christchurch and Auckland.
General manager Corey Mulligan told Newstalk ZB's Chris Lynch he is working with staff through a consultation period.
He said the decision had been delayed for some time.
"The Christchurch factory makes speciality garments, and the company has been seeing less demand for these and more demand for lower-cost imported products."
Mulligan said the company has loyal employees and many of them had been at the company on average for 15 years.
Two members have been with the company for more than 40 years.
Counselling is being offered to workers, along with new job support.
He said if the proposal does go ahead, staff from the Ministry of Social Development will be on site to discuss benefit support.