While the large box stores do a decent job catering to nearly everyone, there are some things the large guys just don’t do.
That builds 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 conclude of September.
Then the company declared it would shuttering the 22 locations in Ontario and Nova Scotia, only to later declare 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 declareing it had obtained an Initial Order for creditor protection under its Creditors Arrangement Act.
Doug Anderson, President and CEO of Peavey Industries declared in the statement, “We remain focapplyd 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 indusattempt following the COVID-19 pandemic and shifting market trconcludes.
Liquidation sales have begun and the company is encouraging its customers to take advantage before the stores close for good in April.
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