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The Montreal-based maker of tear-resistant tights struck a deal Tuesday to sell itself to apparel manufacturer AYK International, after months of financial strain and a court-supervised restructuring process. (The Logic)
Talking point: AYK is expected to keep operating the Sheertex brand and to retain SRTX’s proprietary technology. Certain assets, however, are excluded from the transaction, among them the company’s Pointe-Claire, Que., manufacturing facility and some equipment, according to SRTX’s press release. The company plans to seek court approval for the deal under Canada’s Bankruptcy and Insolvency Act. The sale follows repeated layoffs and profitability challenges last year. Founder Katherine Homuth, who departed in spring 2025 as condition of a US$40-million funding round, said in October that she had submitted a proposal to rejoin the business.
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