Peavey Mart to close stores across Canada

Less than a year after it first opened, Peavey Mart in Steinbach is closing.

In a press release issued by the company, Peavey Industries announced it had filed for creditor protection from the Court of King’s Bench in Alberta. Peavey Mart is headquartered in Red Deer. The company announced the closure of 22 stores in Ontario and Nova Scotia earlier in the week and later announced the shuttering of all of its 90 Peavey Marts and six MainStreet Hardware locations.

“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 decision to seek creditor protection and close all stores was made after thorough evaluation of available options, in consultation with legal and financial advisors, according to Peavey Mart.

“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 the release.

The 28,800 sq.ft. Steinbach store sold more than 15,000 items including agricultural supplies, such as farming equipment, animal feed, gardening tools, an extensive range of hardware, home improvement, and outdoor living products. The Steinbach location also provided a clothing department covering workwear and everyday lifestyle options. Amongst other departments, this location offered homesteading, birding, grilling, automotive services, and a pet department, which included an in-store dog washing station. It also had a 1,440 sq. ft. greenhouse.

The Peavey Mart in Steinbach employed 21 people.

People took to social media to voice their concerns about the closure. Most were surprised that the Steinbach store was closing with some lamenting that another Canadian company was going under.

“That’s my favourite store,” wrote Jonas Reimer on Facebook.

“My chickens love the feed I get there,” wrote Tamara Lynn on the same social media app.

Some were not surprised by the closure.

“Well they definitely have to work on their prices. Great items sometimes but at a 20 percent to 30 percent mark up. When they bought tractor supplies same items that were $150 went up to $230 overnight. About 80 percent of items in store are more expensive than Amazon,” wrote Nash Guindi on Facebook.

Other Peavey Mart locations closing in the province include Winkler, Brandon, Swan River and two in Winnipeg.

Peavey Mart has been in operation since 1967 when it started as National Farmway, a chain of “super farm markets” whose first location opened in Dawson Creek, B.C.