Montreal-based Baltex, the largest maker of swimsuits in the country, is filing for bankruptcy protection, putting more than 350 employees out of work.

The bankruptcy of Baltex puts more than 350 people out of work.
(CBC)

Baltex was a $100-million-a-year business and one of the largest swimsuit manufacturers in North America.

"The Canadian dollar being equivalent to the American dollar has diminished the profitability of the company," bankruptcy trustee Noubar Boyadjian said Wednesday.

He said other clothing companies are also experiencing the same problem, with many buyers finding it cheaper to shop overseas.

'I think our clothing industry is almost gone, unfortunately,' said Jean Larose, who worked for Baltex for 23 years.
(CBC)

"They do tricot [cloth] now in China, and it costs 50 per cent less than in Quebec, and they pay their people one dollar an hour there. So, definitely I think our clothing industry is almost gone — unfortunately," said Baltex employee Jean Larose, who was with the company for 23 years.

Eve Grenier, the president of the trade organization Apparel Quebec, said she hopes that stressing high-quality craftsmanship will help the industry survive in the province.

She said some companies are already promoting this by "insisting on their own brands, promoting their own brands, customer loyalty, fidelity."

Boyadjian said there is a chance Baltex might yet be revived. He said several companies, mostly American, have already called to see whether they could buy the factory.