Sheertex maker launches strategic review that could result in sale, lays off staff

Branding on products from Canadian hosiery manufacturer Sheertex are shown in a handout illustration, in Toronto, Thursday, April 3, 2025. THE CANADIAN PRESS/Giordano Ciampini

The maker of Sheertex pantyhose says it is launching a strategic review that will halve its workforce and could result in a sale of the business.

SRTX Inc. says the review will explore several options aimed at strengthening the Montreal-based company for the long-term and could include recapitalizing or reorganizing the business.

As part of the move, SRTX is laying off close to 100 employees but says it hopes to recall them after the review. The company had almost 200 staff before the move.

The business also says CEO Sophie Boulanger will be stepping down. Boulanger took on the top job in September and SRTX says she is now departing as part of a “personal decision.”

Before Boulanger joined the company, SRTX temporarily laid off 40 per cent of its staff because of the tariff war between the U.S. and Canada.

It also announced a US$40-million funding deal that closed in May and came in tandem with the departure of founder Katherine Homuth. She says on LinkedIn that she recently submitted a proposal to the company as part of its review process, but did not reveal its contents.

This report by The Canadian Press was first published Oct. 30, 2025.

Tara Deschamps, The Canadian Press