Peavey Mart stores are closing: Beloved Canada retailer joins list of dying chains in rough start to 2025

Peavey Industries LP, Canada’s largest farm and ranch retailer, has announced the shuttering of all its locations across the country following its filing for creditor protection under the Companies’ Creditors Arrangement Act (CCAA), granted by the Court of King’s Bench Alberta.

The closures will impact 90 Peavey Mart stores and six MainStreet Hardware locations, with liquidation sales starting immediately, marking the end of nearly six decades of operations for the Alberta-based company, which has long been a key player in Canada’s rural and suburban retail landscape.

‘A profoundly difficult decision’

The news comes as Canada’s retail industry faces unprecedented challenges, including low consumer confidence, inflation, rising costs, supply disruptions, and a tough regulatory environment—factors that have significantly impacted businesses like Peavey.

“This was a profoundly difficult decision, but one that allows us to explore the best possible alternatives for the future of the Company,” said Doug Anderson, president and CEO of Peavey Industries LP, in a statement. “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.”

Gordon Brothers is managing closing sales and liquidation. The investment and restructuring firm has recently managed affairs for bankrupt American retailer Big Lots and recently made a bid for embattled fabrics chain Joann.

Store closing sales will offer discounts of up to 30% off the original ticketed prices on agricultural, farm and ranch supplies, workwear, lawn and garden essentials, hardware, and homesteading merchandise, according to Gordon Brothers.

A loss to rural communities

The closing of the trusted chain will be particularly felt in rural areas. In the city of Weyburn, Saskatchewan, city councillor Laura Morrissette told CBC its local Peavey Mart was seen as an asset for bringing business the core area.

Before being elected as councillor for the city of approximately 11,000 people, Morrissette even worked for the retailer. “[We] had a mantra at Peavey Mart,” she said to CBC. “‘If you can’t find it at Peavey Mart, you probably didn’t need it anyway.'”