Leader Industries, the Canadian manufacturer of protective and sports eyewear, has obtained court approval for bankruptcy protection, with a June 30 deadline to present a reorganization plan, but the proceedings don't involve its operations in France and Brazil, and its Canadian operations are continuing their normal course. The company, which had been looking for new financial partners lately to get over a temporary cash squeeze, posted a pre-tax loss of 7.7 million Canadian dollars (e5.8m-$5.0m) in 2000 on sales of $28.5 million (e21.5m-$18.5m). The loss was due in part to the weaker value of the euro and to investments on new products which have started already to pay off. Leader's consolidated sales were up 22.5 percent in the first 4 months of this year, with Europe up 40 percent. Other factors were the loss of a major safety eyewear contract and of a contract to supply special masks for a popular paintball-based computer game.