News Summary

Montréal-based textile manufacturer SRTX, known for its Sheertex brand of durable tights, has announced temporary layoffs affecting 40 percent of its workforce due to potential US tariffs. CEO Katherine Homuth cited the impending 41-percent duty on some product exports to the US as a significant financial challenge. This decision comes as SRTX grapples with delays in closing a crucial fundraising round. The company, which exports 85 percent of its products to the US, is also affected by the proposed elimination of the ‘de minimis’ exemption, which previously allowed duty-free shipments up to $800 daily. SRTX has been working to secure additional funding to continue its operations and expand its manufacturing capacity in Québec, with support from Investissement Québec.