A large fire yesterday at Donkeystones Mill in Dobcross, Oldham, has destroyed one of the area's oldest engineering companies.
Ezra Postlethwaite & Sons, who have operated at the mill since 1895, were the only factory left in Britain still producing spirit level bubbles.
All 10 workers at the mill escaped unharmed, but fire crews were unable to save the building, which was completely gutted. Its a blow for local jobs as its unclear if the business will ever reopen in the future.
More alarming is the cost to Britain's economy, as spirit level manufacturers will now have to import inferior quality bubbles, from places like China and India.
Stu Driver, purchasing manager for tool giant, Stanley, told us "This is really bad news for the customer who likes to purchase a quality product". "Anybody who wants to get the best spirit level on the market, will always check first, to see if the bubble is a Postlethwaite."
"Dobcross bubbles are renowned as the best, and most durable you can get, and although the foreign one's are good, you can always tell if the bubble isn't a genuine Postlethwaite".
Prime Minister David Cameron was said to have cut short his visit to the G8 summit, to visit the scene.
Deputy Prime Minister Nick Clegg was still trying to find Dobcross in his atlas, but was expected to arrive sometime tomorrow.