Losses deepen at the Fishers Group laundry company

Fishers is more than 100 years old and has 700 workers at a number of different sites

Cupar-based Fishers Group has reported bigger losses in its latest accounts from £1.8m in 2010 to £3.5m last year.

The company which rents out textiles to hotels and restaurants and launders them said it had faced "unprecedented challenges" which were mostly down to rising textile costs.

Turnover at the group rose by £2.5m to more than £32m.

Fishers Group which employs more than 700 people said its key markets "remained extremely challenging".

It said although its healthcare and garments business remained flat the hospitality sector grew by 11%.

Founded in 1900, Fishers has six plants in Scotland and the North East of England.