Peavey Mart confirms it’s closing all Canadian stores

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This article was published 28/01/2025 (274 days ago), so information in it may no longer be current.

The company that owns Peavey Mart announced Monday night it is closing all the stores across Canada, including the six Manitoba locations.

Peavey Industries, which is based in Red Deer, Alta., recently said it would shutter 22 locations in Ontario and Nova Scotia. The announcement about closing all 90 Peavey Marts and six MainStreet Hardware locations was made after “store closing” signs were reportedly seen at Peavey locations in Western Canada. A message to customers was posted on social media Tuesday morning.

There are two Peavey Marts in Winnipeg — on Nairn Avenue and Pembina Highway — and one each in Steinbach, Winkler, Brandon and Swan River. The stores are billed as Canada’s largest farm and ranch retail chain.

Peavey Industries said in a news release that it sought and obtained an initial order for creditor protection in the Court of King’s Bench in Alberta on Monday.

“The decision to seek creditor protection and close all stores was made after thorough evaluation of available options, in consultation with legal and financial” advisers, the release said.

“The Canadian retail industry is experiencing unprecedented challenges, including record-low consumer confidence, inflationary pressures, rising operating cost and ongoing supply disruptions along with a difficult regulatory environment. These factors have created significant obstacles for businesses like Peavey.”

Peavey CEO Doug Anderson said it “was a profoundly difficult decision, but one that allows us to explore the best possible alternatives for the future of the company.”

A manager at one of the Manitoba stores said Monday that items were marked down 10 to 30 per cent and that all items are final sale.

Peavey Mart had its original roots in Winnipeg and opened its first store in Dawson Creek, B.C., in 1967 under the National Farmway name. It was rebranded as Peavey Mart in 1975, when it was a subsidiary of Peavey Company of Minneapolis. It returned to Canadian ownership in 1988.

adam.treusch@freepress.mb.ca