Peavey Mart, a Canada-based farm store with locations across Canada, recently announced it is closing all its stores.
Here is the letter it posted on its Facebook page.
To Our Valued Customers, and Communities.
Yesterday, our company announced that it had sought and obtained an Initial Order for creditor protection under the Companies' Creditors Arrangement Act (CCAA) from the Court of King’s Bench Alberta.
Following the recently announced closures of 22 stores in Ontario and Nova Scotia, the Company will now begin store closing sales at all remaining locations across Canada. This includes 90 Peavey Mart stores and six MainStreet Hardware locations. The closures and liquidation efforts will commence immediately.
The decision to seek creditor protection and close all stores was made after 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 chain disruptions. These factors have created significant obstacles for businesses like Peavey.
As a proudly Canadian retailer with nearly 60 years of history, predominantly serving rural communities, we have faced the extreme pressures affecting Canadians across the country. Through it all, we have remained committed to the values that define us. For decades, Peavey Mart has supported local events, funded charities, and worked to strengthen the communities we call home. If you’ve ever benefited from one of our partnerships or seen the impact of our initiatives, we humbly ask for your continued support to help us work through this challenging time.
Every time you choose to shop locally or support a Canadian retailer, you help make your community more prosperous. By choosing Canadian retail businesses, you ensure that dollars stay within Canada, supporting the people, organizations, and livelihoods that enrich our communities.
We have seen your comments, your posts, your stories and have felt all of them at our very core. We acknowledge how difficult this has been for our staff, our customers and our communities. We know how much this brand means to you, and in return we want to say thank you. Your unwavering support has been the backbone of our organization’s history.
Thank you for believing in us.
We value our customers more than words can express.
With heartfelt gratitude,
Peavey Mart