Peavey Industries LP has announced it is closing its stores across Canada.
A statement from the company reveals store-closing sales will commence at 90 Peavey Mart stores and six MainStreet Hardware locations, as it has gotten an initial order for creditor protection.
The company said the liquidation sales would commence immediately.
This came after the company confirmed it was closing 22 Peavey Mart stores in Nova Scotia and Ontario.
The owner of the Peavey Mart farm and outdoor goods stores had said the 22 stores, which include shops in Cornwall, Bowmanville, Kingston, Kitchener, St. Catharines and Sudbury, would close by April.
Peavey Industries LP says the company sought creditor protection and closed its doors due to many factors, including record-low consumer confidence, increased operating costs and continued disruptions to the supply chain.
“This was a profoundly difficult decision, but one that allows us to explore the best possible alternatives for the future of the company,” Peavey Industries LP president and CEO Doug Anderson said in the statement.
Peavey Mart started in Dawson Creek, B.C., in 1967 under the National Farmway name but changed name to Peavey Mart in 1975, when it was a subsidiary of Peavey Company of Minneapolis. In 1988, it returned to Canadian ownership.
