Peavey Industries LP says it is closing its stores across Canada.
A statement from the company says store-closing sales will start at 90 Peavey Mart stores and six MainStreet Hardware locations, as it has obtained an initial order for creditor protection.
The company says the liquidation sales will begin immediately.
This comes after the company confirmed earlier Monday it was closing 22 Peavey Mart stores across Nova Scotia and Ontario.
The owner of the Peavey Mart farm and outdoor goods stores had said those 22 stores, which include shops in Bowmanville, Cornwall, Kingston, Kitchener, St. Catharines and Sudbury, would close by April.
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Peavey Industries LP says the decision to seek creditor protection and close its doors is due to several 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 got its start in Dawson Creek, B.C., in 1967 under the National Farmway name but changed names to Peavey Mart in 1975, when it was a subsidiary of Peavey Company of Minneapolis. It returned to Canadian ownership in 1988. Locally, it has stores in Orillia, Collingwood and Alliston.
