The announcement of Peavey Mart closing spread like wildfire when the franchise first announced it was closing operations only in certain parts of Canada. That quickly changed into the franchise closing its doors permanently and leaving Swan River with another loss.
The Star and Times reached out to Peavey Mart for comment and they declined to answer any questions but released the following statement,
“Peavey Industries LP ("Peavey" or "the Company"), Canada’s largest farm and ranch retail chain, announced today that it has 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.