Peavey Mart ceasing Canadian operations, closing three locations in Waterloo Region

While the big box stores do a decent job catering to nearly everyone, there are some things the big guys just don’t do.

That makes the announcement of Peavey Mart, formerly TSC Stores, would be closing all its Canadian retail stores that much harder to swallow.

Last year the company announced it would be closing several locations, the Cambridge store among them. It closed at the end of September.

Then the company said it would shuttering the 22 locations in Ontario and Nova Scotia, only to later say they would close all Canadian locations.

This affects stores in Kitchener, St. Jacobs, Mount Forest, Woodstock, Listowel and Brantford.

The stores cater primarily to rural customers with a wide selection of farm-specific products while also carrying many of the items other hardware and home stores also stock. This will have a definite impact on those rural customers who already, in some cases, have limited choices.

Peavey Industries LP, released a statement on Monday saying it had obtained an Initial Order for creditor protection under its Creditors Arrangement Act.

Doug Anderson, President and CEO of Peavey Industries said in the statement, “We remain focused on working with our partners and stakeholders to preserve the Peavey brand and the value it represents.”

The press release also mentioned unprecedented challenges in the retail industry following the COVID-19 pandemic and shifting market trends.

Liquidation sales have begun and the company is encouraging its customers to take advantage before the stores close for good in April.