Peavey Mart locations across Canada are set to close their doors in the coming months as Peavey Industries LP seeks creditor protection. Liquidation sales will begin immediately at 90 Peavey Mart stores and six MainStreet Hardware locations nationwide, four of which are in Alberta.
The decision to seek creditor protection and close all stores was made after a thorough evaluation of available options, in consultation with legal and financial advisors. The Canadian retail industry is experiencing unprecedented challenges, including record-low consumer confidence, inflationary pressures, rising operating costs, and ongoing supply disruptions along with a difficult regulatory environment. These factors have created significant obstacles for businesses like Peavey, stated a released statement.
“This was a profoundly difficult decision, but one that allows us to explore the best possible alternatives for the future of the company,” said Doug Anderson, President and CEO of Peavey Industries LP. “For nearly six decades, our customers’ loyalty, employees’ dedication, and the resilience of the communities we serve have been the cornerstone of our business. We remain focused on working with our partners and stakeholders to preserve the Peavey brand and the value it represents.”
The Vermilion MainStreet Hardware location opened in November 2013, with Ebony Jensen serving as manager since its inception. Jensen described the news as a “tremendous shock” and expressed deep gratitude to the community for its unwavering support over the years.
“MainStreet Hardware would not have been as successful without the incredible support of the community,” said Jensen. “I sincerely thank everyone for their encouragement during this process.”
A loyal customer noted that the store is an essential service in the community and that its closure will have a significant impact on the area. MainStreet Hardware has long catered to rural life, offering specialized goods such as farming supplies.
As of January 31, the store is offering discounts ranging from 10 to 30 percent, with some limitations.
Jensen also praised her staff, stating, “I would like to thank the staff—they have all been champions since finding out about the closure and are committed to seeing this through. They are hardworking and have good hearts.”
At this time, no official closing date has been set.
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