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More than 100 jobs could be lost in the Cornwall and Plymouth economies if the huge Tulip Ltd meat factory shuts down – in addition to the 270 at the plant.

Tim Jones, chairman of South West Business Council, said there will be a knock-on effect for the regional economy of losing a factory as big as the Tulip plant in Bodmin, Cornwall.

Mr Jones, also on the board of the Heart of the South West Local Enterprise Partnership, said for every two factory jobs lost another is likely to go in the vast supply chain that serves the plant, and in the service sector which feeds off the income from its employees.

Bosses at Tulip are considering closing the factory in Bodmin – unless a rescue deal can be obtained - and a 45-day consultation has started with employees.

Workers will learn if they are to receive their cards on December 9, 2019, and while the firm has yet to confirm the factory’s closure, the company said: “The site has been operating at a significant loss for several years and while it remains a well-invested site with industry-leading capabilities, it is unsustainable to maintain operations under the existing business model.

“Unless we can secure a joint recovery plan with our strategic partners and employees, we cannot continue to operate while making such significant losses.”

Mr Jones said: “It looks certain they will close it. The knock-on effect will be seen outside direct employment, on indirect jobs.”

He said the closure will mean the loss of many skilled jobs at the factory, but with the supply chain effect felt all the way to Plymouth, 32 miles away, where there are firms that rely on contracts with such factories.