FALL RIVER — About 900 workers at Quaker Fabric Corp., who are on break during the company’s annual two-week summer shutdown, are uncertain if they will have jobs to return to because the plant may not reopen.

The company said late Thursday that it failed to meet borrowing requirements of existing loans.

“The company further announced that it likely will commence an orderly liquidation of its business and a sale of its assets,” Quaker said in a filing with federal regulators.

“There is significant uncertainty as to whether the company will be able to obtain sufficient liquidity from alternative sources to continue its operations after its annual shutdown period, which this year runs from July 2 to July 15.”

Quaker also said that a liquidation and sale “would not generate sufficient funds to permit any payment to holders of its common stock.”

The disclosure pushed down Quaker’s stock (QFAB:Nasdaq) by 39 percent to close at 70 cents a share on Monday. Yesterday, the stock fell another 52 cents to close at 18 cents a share. Volume was heavy.

Quaker, one of the largest textile manufacturers in the region, makes woven upholstery fabrics for residential furniture. The company also develops and manufactures specialty and chenille yarns, which it sells and uses in the production of its fabrics.

The 62-year-old company once employed 2,000 people and was once the largest employer in the city. But after a series of financial reversals after a loss of business to overseas markets, the company has pared its presence and work force in the city.

In the wake of Quaker’s disclosure, Mayor Edward M. Lambert Jr. told the Fall River Herald newspaper that he had already begun talking with state officials on how to assist the hundreds of employees who could soon be laid off. He has contacted Governor Patrick and the state Economic Affairs office to say the city will be looking for assistance in any way possible for displaced workers, Lambert said.

Kenneth Fiola Jr., president of the Fall River Office of Economic Development, said he talked to Larry A. Liebenow, company president and chief executive officer, and Cynthia L. Gordan, vice president, secretary and general counsel, and said they assured him they intend to work closely with the city and state to help Quaker employees.

“They did tell me that absent any significant funding, they would proceed with liquidation and closure of the business,” Fiola said. “I think the handwriting has been on the wall for quite some time. Everyone knew it would be hard for Quaker despite their best efforts. Competition from overseas markets has significantly impacted the textile industry. It has made it impossible to compete.”

Quaker’s written news release said the company “has not met the requirement for committed borrowings under its existing lending facilities and, as a result, any advances to the company by its revolving lenders will only occur on a discretionary basis.”

The disclosure continued, “The company continues to talk with each of its existing lenders about the financing needed to conduct such an orderly liquidation and sale. In addition, the company is actively investigating sources of alternate liquidity, including debt, equity or a combination of debt and equity financing.”

The company said in an advertisement in yesterday’s Herald News that employees enrolled in the company’s medical plan “will have a number of alternatives available.” Those alternatives, the ad said, will be discussed during employee information sessions. According to the advertisement, employees will be entitled to money in their 401(k) accounts and arrangements will be made for employees to collect their personal belongings.

“If we are not able to reopen,” Liebenow said in the ad, “please know that I have always been proud to be a member of the Quaker team and I am personally grateful to each and every one of you.”

Lambert said Patrick expressed his concern and said he and his Cabinet will offer resources to employees.

“It is certainly very upsetting news,” Lambert said. “It’s a sad day for the city.”

Fiola said he would like to work with Quaker to identify potential purchases of its properties in the city so they won’t fall into disrepair. He called the chances the company could find an alternative to liquidity “slight.”

“I can’t say for certain but this may, in fact, be the end of Quaker,” Fiola said. “This is very disheartening news. The region has not seen a layoff of this magnitude in quite some time. We need, as a city, to pull ourselves up by our bootstraps, continue to diversify our economic base so we no longer have such a dependency on one economic sector.”

Lambert said he talked to Liebenow and told the Quaker executive the city will help in any way it can. There is a way, he said, for employees to collect two years of pay if the layoffs are deemed the result of trade conditions. Liebenow said in yesterday’s advertisement that a notice of what is known as the Warn Act, which could give employees two years of pay, was mailed to employees Monday night.

The decline in Quaker’s number of employees is “clearly impacted by national trade policies,” Lambert said. “If the federal government is going to embrace those policies, it needs to ensure that cities like Fall River aren’t left behind.”

With Bloomberg News and Associated Press reports