Peavey Mart will be closing all stores across Canada, the company confirmed this morning.
“The Canadian retail industry is experiencing unprecedented challenges, including record-low consumer confidence, inflationary pressures, rising operating costs, and ongoing supply chain disruptions,” the company said in a statement posted to X.
“These factors have created significant obstacles for businesses like Peavey.”
The company said it had obtained an initial order for creditor protection from the Court of King’s Bench Alberta. Last week, it announced it would close 22 stores in Ontario. Now it said it will close all remaining locations across Canada, including 90 Peavey Mart stores and six MainStreet Hardware locations.
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Peavey Mart acknowledged the social media buzz generated by rumours of the company’s demise.
“We have seen your comments, your posts, your stories and have felt all of them at our very core,” it said. “We know how much this brand means to you, and in return we want to say thank you.”
Following the Jan. 21 announcement of closures in Ontario, customers took to social media and internet forums looking for answers.
On the Saskatoon Reddit forum, a post titled, “Peavey Mart closing?” opens with the statement, “friend of mine was at Peavey Mart today (on 51st) and an employee told her they were closing. No idea if it’s just the Saskatoon Peavey Mart or all Peavey Marts. Anyone know anything else about this?”
The post went up Jan. 26. Many commentators expressed sadness at the news. Others questioned what was truly going on, as official news releases to date had stated no Saskatchewan closures, yet reports from employees suggested stores were closing.
—With files from Janelle Rudolph
