Peavey Industries has announced that it will close 22 Peavey Mart locations in Ontario and Nova Scotia. “This decision marks an initial step in the company’s broader efforts to address current challenges, strengthen its operations, and position itself for future sustainability,” the company said in a release.
“The Canadian retail environment has faced significant disruption over recent years, and Peavey has not been immune to these challenges,” said Doug Anderson, president and 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.”
The company will close 21 Peavey Mart locations in Ontario. Additionally, two other Ontario locations, the Hyde Park store in London (shown here) and the Rockland store are closing, as previously announced by Peavey, along with one location in Nova Scotia.
