Troubled Sheertex owner finds buyer in Quebec-based hosiery firm

SRTX cited the expected effects of U.S. tariffs as well as the impending removal of an exemption that allowed low-value packages to be shipped duty-free to U.S. customers for their financial troubles. Photo by Kostikova/Getty IMages/Postmedia filesArticle contentSRTX Inc., the struggling Canadian company known for making resilient pantyhose called Sheertex, found another apparel business in the Montreal region to buy it, months after announcing a strategic review.Sign In or Create an AccountEmail AddressContinueor View more offersArticle contentA.Y.K. International Inc., which owns the Secret and Silks pantyhose brands, is making the offer, according to a statement Tuesday that didn’t disclose a price. A.Y.K. also makes socks, gloves, hats and bags.Article contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.We apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Play VideoArticle contentArticle content“We have long admired Sheertex — not only for its innovation, but for its deep commitment to its craft and its customers,” Dan Abitan, A.Y.K.’s chief executive, said in a statement.Article contentPosthasteBreaking business news, incisive views, must-reads and market signals. Weekdays by 9 a.m.There was an error, please provide a valid email address.Sign UpBy signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Posthaste will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article contentThe transaction will preserve the Sheertex brand and its proprietary technologies, SRTX said. It plans to seek court approval for the deal using a proposal under Canada’s Bankruptcy and Insolvency Act.Article contentSRTX’s difficulties came to light a year ago, when it put 40 per cent of its then-350 employees and contractors on temporary leave, citing the expected effects of United States tariffs as well as the impending removal of an exemption that allowed low-value packages to be shipped duty-free to U.S. customers.Article contentKatherine Homuth founded SRTX in 2017 with the backing of Y Combinator, and investors included Sweden’s Hennes & Mauritz AB, Investissement Quebec and the Canadian government’s export development agency.Article contentHomuth, who left the company in March 2025 when it accepted US$40 million in fresh capital, said in October she had submitted a proposal to take back the firm.Article contentBloomberg.comArticle contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Play VideoArticle contentTrending Posthaste: Canada's biggest city is losing momentum, and that's a problem for the whole country News U.S. open to changing steel and aluminum tariffs, Greer says Commodities Cooler inflation gives Bank of Canada an opening to cut rates if economy falters, say economists Economy Taxing unrealized gains is a silly idea that Canada should ignore Personal Finance Subscriber only. 'We need to wake up': Atlantic Canada a microcosm of the problems facing the rest of the country Subscriber only Economy Share this article in your social networkCommentsYou must be logged in to join the discussion or read more comments.Create an AccountSign in Join the Conversation Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information. Posthaste: Canada's biggest city is losing momentum, and that's a problem for the whole country News U.S. open to changing steel and aluminum tariffs, Greer says Commodities Cooler inflation gives Bank of Canada an opening to cut rates if economy falters, say economists Economy Taxing unrealized gains is a silly idea that Canada should ignore Personal Finance Subscriber only. 'We need to wake up': Atlantic Canada a microcosm of the problems facing the rest of the country Subscriber only Economy