DAN CEARNS The Standard
UXBRIDGE/LINDSAY: Peavey Mart has announced they will be closing all of their Canadian locations, including ones in Uxbridge and Lindsay.
“Yesterday, our company announced 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 closures of 22 stores in Ontario and Nova Scotia, the Company will now begin store closing sales, at all remaining locations across Canada. This includes 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 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 recent post, on Peavey Mart’s Facebook page, stated.
Last month, the company announced they would be closing a number of their Ontario stores by or before April.
“Every time you choose to shop locally or support a Canadian retailer, you help make your community more prosperous. By choosing Canadian retail businesses, you ensure dollars stay within Canada, supporting the people, organizations, and livelihoods which enrich our communities. We have seen your comments, your posts, your stories and have felt all of them at our very core. We acknowledge how difficult this has been for our staff, our customers and our communities. We know how much this brand means to you, and in return, we want to say, thank you. Your unwavering support has been the backbone of our organization’s history,” the Facebook post added.
In a brief statement, Peavey Industries president and CEO, Doug Anderson spoke about the decision to seek creditor protection.
“This was a profoundly difficult decision, but one which allows us to explore the best possible alternatives for the future of the Company,” he said. “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.”
Uxbridge Mayor, Dave Barton also provided a statement about the upcoming closing of the Uxbridge store and the future of the property.
“It’s truly unfortunate to hear Peavey Mart, in Uxbridge, is closing its doors. While I didn’t shop there often, I always found their staff to be friendly and helpful, and I sincerely hope they find meaningful local employment, as soon as they’re ready. The zoning for this location (C4) allows for a variety of retail uses, including a grocery store, and no council approval is needed for a new business to invest in this space. I’ve already been in touch with the property owners and have offered my support, as they explore future tenant options,” he stated. “In the meantime, I hope some of our excellent local businesses, such as Sharpe’s Farm Supply, Canadian Tire, RONA, and Mark’s Work Wearhouse, can step up to fill the retail void and provide opportunities for those seeking employment. Like many in the community, I also share the desire for more grocery options in Uxbridge, and I’m hopeful this site can be part of addressing that need in the future. Together, we can work towards ensuring this property continues to contribute positively to our town.”
Neither of the local stores responded to a request for comment on how many jobs this will impact.
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