ONE-time footwear giant Lambert Howarth has announced it is pulling out of the Rossendale Valley after 120 years -- leaving just a shop and museum bearing the company name.

The group today announced the phased closure of its general trade importing division, with the loss of 33 permanent jobs and several temporary posts.

The shut-down of the division, based at Greenbridge Mill, Rawtenstall and at Whitewell Bottoms, means the company's main business will be the Burnley-based accessory division, supplying goods such as scarves, handbags and jewellery, to top firms like Marks and Spencer.

The group said the Rossendale closure -- three years after the company pulled out of manufacturing, with the loss of 300 jobs in the Valley -- was part of its review of under-performing areas of the business.

The division, which supplies footwear to retail outlets in the UK and has a current turnover of £9million, is expected to break even this year, but is experiencing worsening market conditions. The safety footwear business, part of the general trade importing division was sold off in May.

Lambert Howarth, which used to be the largest footwear business in East Lancashire, said the phased closure was due to be completed by the end of the year.

It will leave just 12 company employees in the Valley at the shop and museum.

By the 1960s the company made over six million pairs of shoes and slippers a year.

Managing director of the division Gary Smith said: "It is very sad to see this happen. The workforce were stunned when the announcement was made.

"The decision has been made because of the worsening trend in the high street and margins suffering as a result of the global economy. We will be trying to do everything we can for the employees and they are our biggest priority now. Hopefully some will be able to find work in our mills in Burnley."

Chairman of Lambert Howarth Robert Garfit said: "We regret that we have had to reach this decision and that it will result in a number of redundancies. The decision is in line with the board's stated strategy to move the emphasis of the group's activities to a higher margin business on a more diversified base."

Interim results are out on August 29.

The footwear museum which had been based in Gaghills, Waterfoot, was transferred and expanded at the Greenbridge site last summer.