Peavey Mart announced this week plans to close 22 locations in Nova Scotia and Ontario, including the store in Chatham.
Company officials say the decision marks an initial step in the company’s broader efforts to address current challenges, strengthen its operations, and position itself for future sustainability.
The closures are part of a measured strategy to optimize Peavey’s retail footprint, focusing on reallocating resources to markets with stronger performance while addressing underperforming locations, Peavey Mart officials said on their website.
The company has engaged Gordon Brothers Realty Services, LLC, a global leader in real estate advisory, to ensure a seamless transition for employees, communities, and all stakeholders involved.
“The Canadian retail environment has faced significant disruption over recent years, and Peavey has not been immune to these challenges,” said Doug Anderson, President & CEO of Peavey Industries LP, in a media release.
“We recognize that difficult decisions like these are necessary to create a more stable foundation for the long-term success of our business. While this is a step forward, it’s part of an ongoing process to adapt and rebuild in response to changing market dynamics.”
Peavey officials say they are deeply mindful of the impact these closures will have on employees and communities.
“To our employees, we cannot thank you enough for your hard work, resilience, and passion,” the company stated.
“You have been the heart of Peavey Mart, and your contributions have left a lasting legacy. To the communities we have served, we are grateful for the trust and loyalty you have shown over the years. We know how much the Peavey Mart brand means to you and we want to thank you for the years of support.”
The following Peavey Mart locations are scheduled to close by or before 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, and Uxbridge.
Additionally, the organization’s Rockland and Hyde Park locations are closing, which had been announced by the company earlier.
The company will continue to evaluate and respond to the evolving needs of the business, Peavy officials added.
