TORONTO--The Retail Council of Canada said Tuesday it will develop new trade guidelines after the deadly collapse of an eight-story factory complex in Bangladesh that made clothes for Canadian retailer Loblaw Cos. Ltd. (LBLCF, L.T), among other companies.

The council said in a statement that it will work with members in Canada and with global partners, to write "an updated set of responsible trade guidelines," as well as educational materials and resources for the industry.

The announcement follows an emergency meeting Monday of the nonprofit industry group and its retailer members.

Last week, clothes from Canada's iconic Joe Fresh label were pulled from the rubble of the factory that collapsed in the Dhaka suburb of Savar. About 400 people were killed and many more were injured.

Loblaw Cos., the Canadian supermarket chain for which Joe Fresh is made, said Monday it would provide compensation for the families of the victims who worked for its supplier.

"We are working to ensure that we will deliver support in the best and most meaningful way possible, and with the goal of ensuring that victims and their families receive benefits now and in the future," Julija Hunter, Loblaw spokewoman, said late Tuesday.

The Retail Council of Canada represents more than 45,000 stores across Canada, including Sears Canada (SEARF, SCC.T) and Wal-Mart Canada Inc., a unit of Wal-Mart Stores Inc. (WMT).

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