The company that owns Peavey Mart, a popular retailer for farmers, anglers, and hunters, has announced it will close all 96 of its stores nationwide.
Peavey Industries LP announced the closure on Monday, Jan. 28, including that it has obtained creditor protection and will immediately begin closing sales. Some 90 Peavey Mart and six MainStreet Hardware locations will be shuttered.
The Red Deer, Alberta-based company cited “unprecedented challenges” in an industry experiencing record-low consumer confidence, inflationary pressures, rising operating costs, supply disruptions, and challenging regulatory environment.
Just last week, the agricultural retailer announced it was closing 22 locations in Ontario and Nova Scotia by May as part of organizational restructuring.
The Ontario Federation of Anglers and Hunters, which owns Ontario OUT of DOORS, had a longstanding relationship with Peavey, which acquired the TSC Stores banner in 2017. The final TSC Stores were converted to Peavey in spring of 2021.
