A baby car seat made by Safety 1st, a brand owned by Dorel Industries, in Brossard, Que. The company has been in financial straits for months.

Dorel Industries Inc. DII-B-T says it’s close to clinching a pool of fresh financing as the Canadian consumer products maker tries to reset its business under pressure from U.S. tariffs.

The maker of Maxi-Cosi baby strollers and DHP daybeds, which has been in financial straits for months, said Monday that it is working to finalize agreements that would recapitalize its balance sheet with up to US$385-million in new credit facilities and a sale of preferred shares. It expects to cement the deals by the end of September.

A group of lenders led by affiliates of TCW Asset Management Company as administrative agent will provide up to US$310-million

See Full Page