Peavey Mart, a Canadian retail chain known for agricultural supplies, hardware, and home improvement products, is closing all its stores nationwide. Liquidation sales have already begun, including the flagship location in Red Deer, Alberta. This marks a significant turn of events for a company with deep roots in Canadian retail dating back to its establishment in Winnipeg in 1967.

Peavey Mart has long been a staple for rural and small-town communities, catering to farmers, ranchers, and homeowners. The company expanded from its Western Canada base into Ontario and other regions, particularly following its acquisition of TSC Stores in 2016. In 2020, the company acquired the Canadian master license for Ace Hardware from Lowe’s-owned RONA Inc., adding 107 Ace Hardware locations to its portfolio.

However, the partnership with Ace Hardware International ended in 2024, forcing Peavey Mart to refocus on its Peavey Mart and MainStreet Hardware brands. In January 2025, Peavey Industries announced plans to shutter 22 underperforming Peavey Mart locations in Ontario and Nova Scotia by the end of April. The closures were presented as part of an organizational restructuring aimed at stabilizing the business and positioning it for future growth.

The company secured a $155 million financing package from Gordon Brothers, which included a $105 million revolving credit facility, a $30 million term loan, and a $20 million consignment program. The financial injection was intended to facilitate restructuring efforts, support ongoing operations, and provide a lifeline to the struggling retailer. However, these measures were ultimately insufficient to save the business.

The closure of Peavey Mart will leave a significant void in the Canadian retail landscape, particularly in rural and small-town markets where the chain has long been a trusted resource for agricultural and home improvement needs. The closures are also a major blow to the company’s workforce across the country.

As a last resort, Peavey partnered with Gordon Brothers, an American investment firm, which now holds a majority stake in the company and is making all decisions going forward. It appears that the current plan may be to liquidate and close all locations, with potential rebranding, though which stores will remain open is still uncertain.

Source: Retail Insider
Source: Access Winapeg
Source: Insagua