The Globe and Mail reports in its Thursday edition that an unnamed source says Sheertex founder Katherine Homuth informed her staff this week that she is stepping down as the chief executive officer of the financially challenged textile manufacturing start-up based in Montreal. The Globe's Sean Silcoff writes that Ms. Homuth's company, known as SRTX, is renowned for its rip-resistant tights, which are made from the same material used in bulletproof vests. SRTX has struggled for months to secure funding for its immediate cash needs, facing additional challenges from potential tariffs on U.S. shipments. Recently, it laid off about 40 per cent of its nearly 350 employees and contractors for up to six months. During its eight-year life, SRTX has uprooted from its original home in Ontario's Muskoka region; convinced skeptical industry observers that it could create a viable, sturdier alternative to nylons; survived the COVID-19 pandemic; and raised $200-million in equity and convertible debt from investors, including Swedish retail giant H&M, Lululemon founder Chip Wilson and clean-technology venture funds. Its products are stocked by H&M, Costco, Walmart, Holt Renfrew, Macy's and Kim Kardashian's SKIMS banner.