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Published 08/28 2013 10:13PM

Updated 08/28 2013 10:40PM

It's employed many in Cisco since the 1940's, but a few months from now it will be only a past memory.

The Peerless Manufacturing plant will shut down its operations because of financial reasons, according to a spokesperson from the company. 

He tells us the 40 current employees have been given an option to move to the other two plants in Texas, located in Denton and Wichita Falls.

However, that's brought a lot of concern to many local businesses around the community who say they will lose crucial business from the workers.

A spokesperson from the city of Cisco says they aren't too concerned about the loss, since there are other companies moving in that will bring in more than 100 jobs to the area.

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