The Clubman Omega shirt factory is to close its manufacturing operation in Buncrana, Co Donegal, with the loss of 67 jobs.
Some of the staff in Buncrana will continue to be employed in the design and distribution of shirts.
Clubman Omega shirts will in future be manufactured in Lithuania where the company says it has been operating successfully over the last three years.
The company cites the 'unacceptably high costs of production in this country' as the primary reason for its decision.
Clubman says its products produced in Buncrana are now totally uncompetitive in both national and international markets.
At its peak in 2000, 185 people were employed in the Buncrana factory but the company lost its major customer after the 9/11 attacks.
Managing Director Sean Tighe said this is the end of an era for shirt manufacturing in Buncrana, a tradition which has lasted for well over 100 years.
Mr Tighe acknowledged the commitment and dedication of the Donegal workforce over the past 20 years.
Today's announcement by Clubman comes just one week after US pharmaceutical firm Hospira announced it was closing its plant in Donegal town with the loss of 560 jobs.
