Peavey Mart Stores To Close

Peavey Mart is closing all of its stores, including the ones in Essex, Leamington, and Chatham.

On Monday, the company sought and obtained an Initial Order for creditor protection under the Companies’ Creditors Arrangement Act (CCAA) from the Court of King’s Bench Alberta and will close all 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 a 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,” a company statement said.

The Canadian retailer had been in business for nearly 60 years, predominantly serving rural communities.

“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,” the statement concluded.