MONTRÉAL, Feb. 26, 2026 /CNW/ - SRTX Inc. ("SRTX" or the "Company"), the Canadian materials innovator behind Sheertex®, today announced that the Superior Court of Québec has approved the previously announced sale transaction with A.Y.K International Inc., a Canadian hosiery-focused company (the "Purchaser"), following completion of its strategic review process.
The transaction was approved in connection with the Company's Notice of Intention to Make a Proposal (the "NOI") filed under the Bankruptcy and Insolvency Act (the "BIA"), with PricewaterhouseCoopers Inc. acting as trustee. The Court's approval authorizes the Company to proceed with closing the transaction, subject to customary closing conditions.
The transaction is the result of a competitive process undertaken to identify the best available outcome for the Company and its stakeholders. The Purchaser is expected to support continuity of the Sheertex brand and the continued commercialization of SRTX's proprietary materials technology. Certain assets are excluded from the transaction, including the Company's Pointe-Claire lease and certain machinery and equipment, which will be addressed through the ongoing NOI proceedings.
In connection with the transaction, the Purchaser intends to retain a limited number of employees to support the continued operation of the Sheertex business.
Closing of the transaction is expected in the coming days, following completion of the remaining closing steps.
PricewaterhouseCoopers Corporate Finance served as financial advisor to SRTX in connection with the strategic review process.
SOURCE SRTX Inc.
Media inquiries: Eva Hartling, Hartling Communications, [email protected], +1.514.804.7022
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