In January, Peavey Mart announced the closure of 21 stores across Ontario, plus one in Nova Scotia.
“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.
“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.”