SRTX Inc., based near Montreal, is conducting a formal strategic review to explore options for strengthening its operations and long-term prospects, including a potential sale.
The move follows months of financial strain, including a major workforce reduction and executive turnover, Bloomberg reported. The company, which once drew backing from Y Combinator, Investissement Québec, Hennes & Mauritz AB and Canada’s Export Development Corporation, has retained PricewaterhouseCoopers Corporate Finance as its financial advisor for the process.
Founded in 2017, SRTX is best known for its Sheertex brand, a line of ultra-durable knit tights manufactured using proprietary technology at its Quebec-based facility. The firm had placed around 40 percent of its 350-person workforce on leave in February, citing the impact of U.S. tariff policy changes and the loss of low-value parcel exemptions. A new round of temporary layoffs affecting nearly 100 employees was recently announced as the company aligns resources with current operations.