Tariff threat hits, 50 year old Canadian brand closes 90 stores nationwide
As the United States threatened tariffs, Canada experienced an unprecedented wave of store closures, with a large number of long-standing brands closing their stores frantically.
Now, a Canadian retailer with over 50 years of history plans to close all of its stores nationwide.
Last week, Canadian company Peavey Mart announced plans to close 22 stores in Ontario and Nova Scotia. And now it seems that all stores within Canada will be closed.
According to Retail Insider, over 90 Peavey Mart stores in Canada are expected to close. This retailer mainly deals in farm and ranch supplies, including pet supplies, workwear, lawn and gardening products.
Peavey Mart stated that closing stores in Ontario and Nova Scotia is one of the initial measures taken by the company to address the current challenges. Like many other retailers, the company is facing difficulties.
In recent years, the Canadian retail industry has undergone significant changes, and Peavey has not been spared, "said Doug Anderson, President and CEO of Peavey Industries LP.
Image source: Reddit
The following are the Peavey Mart stores in Ontario planned to close by the end of April 2025:
Arnprior, Bedford, Bowmanville, Brockville, Chatham, Collingwood, Cornwall, Goderich, Grimsby, Kingston, Kitchener, Lambeth, Mount Forest, New Liskeard, Sarnia, Smiths Falls, St. Catharines, St. Jacobs, St. Thomas, Sudbury, Woodstock，以及Uxbridge。
In addition, stores in Rockland and Hyde Park will also be closed, as previously announced by the company.
Image source: CTV News
Retail Insider reported that a clearance promotion will be launched this weekend.
According to the official website of Peavey Mart, Peavey Mart was founded in 1967 under the name National Farmway in Dawson Creek, British Columbia.
By 1975, the chain store was renamed Peavey Mart and became a subsidiary of Peavey Company located in Minneapolis; In 1984, the company returned to Canadian ownership; In 2017, Peavey Industries LP acquired the TSC Stores brand headquartered in London, Ontario, which has stores in Ontario and Manitoba.
In January of this year, several retailers announced their closure.
American fashion brand Johnston&Murphy announced that it will close all of its Canadian stores and e-commerce websites on January 18th. Affordable fashion retailers Ricki's and Cleo have also announced the closure of some stores across Canada, while well-known Canadian retailers Frank and Oak have filed for bankruptcy.
Source link:
https://www.insauga.com/closure-canadian-retailer-to-shut-over-90-stores-across-the-country/