By
Bloomberg
Published
October 29, 2025
SRTX Inc., the Canadian company known for making resilient pantyhose called Sheertex, says it may put itself up for sale after initiating a strategic review of the business.
The troubled manufacturer has put nearly 100 employees on temporary leave, or about half of its remaining workforce, said Eva Hartling, an external spokesperson for the firm. Sophie Boulanger, who became chief executive officer less than two months ago, has departed.
“She made the personal decision to step down after helping guide SRTX through a period of transition and operational evolution following her appointment,” Hartling said by email.
Boulanger had succeeded founder Katherine Homuth, who announced her resignation in March as part of a $40 million funding deal that closed in May, and interim CEO Timothy Leyne.
In February, Montreal-based SRTX put 40% of its then-350 employees and contractors on temporary leave, citing the expected effects of US tariffs as well as the impending removal of an exemption that allowed low-value packages to be shipped duty-free to US consumers.
At the time, Homuth said the company’s challenges exemplified the “fragile state of domestic manufacturing in Canada.” SRTX produces tights in a facility near Montreal.
Homuth founded SRTX in 2017 with the backing of Y Combinator, and investors include Sweden’s Hennes & Mauritz AB, Investissement Quebec and the Canadian government’s export development agency.
Other options for the strategic review include recapitalization or reorganization, the company said.
