A well-known glassware company is set to close due to rising costs as bosses have said they are “heartbroken”.

Chiefs at Bristol Blue Glass factory said in a statement posted online that increasing rental costs, fuel prices and the ill health of directors have created an “overwhelming” financial strain, and the company will close on May 31.

The announcement follows 7,000 people signing a petition to keep the company open after bosses were told they would need to find a new location for their factory, based on Bath Road.

Despite finding an alternative site, a spokesperson said the ongoing “challenges have simply become insurmountable for a small business like ours”.