TORONTO - Peavey Industries LP says it is closing its stores across Canada.
A statement from the company says store-closing sales will start at 90 Peavey Mart stores and six MainStreet Hardware locations, as it has obtained an initial order for creditor protection.
The company says the liquidation sales will begin immediately.
This comes after the company confirmed earlier Monday it was closing 22 Peavey Mart stores across Nova Scotia and Ontario.
The owner of the Peavey Mart farm and outdoor goods stores had said those 22 stores, which include shops in Bowmanville, Cornwall, Kingston, Kitchener, St. Catharines and Sudbury, would close by April.
Peavey Industries LP says the decision to seek creditor protection and close its doors is due to several factors, including record-low consumer confidence, increased operating costs and continued disruptions to the supply chain.
To Our Valued Customers, and Communities.
— Peavey Mart (@PeaveyMart) January 28, 2025
Yesterday, the 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… pic.twitter.com/MvZbJIagI2