Crailar Technologies, the US-headquartered company behind Crailar flax, has initiated a process to “examine and consider strategic and financial alternatives”.

The board has established a committee comprised of the three independent members to oversee the process.

It hopes the strategy will reduce operating overhead in all locations, and “right size the manufacturing of Crailar fibre as soon as feasible”. 

The company, which received backing from Adidas and Ikea, struggled with production difficulties at its European facilities, which have led to losses over the past few years.

Share this story: