Dawson Creek Peavey Mart to close as chain obtains creditor protection

DAWSON CREEK, B.C. — Dawson Creek’s Peavey Mart, along with the rest of the company’s stores in Canada, will permanently close its doors. 

After previously announcing the closure of 22 stores in Ontario and Nova Scotia, the company will now close all remaining stores, including 90 Peavey Mart and six MainStreet Hardware locations.

That includes the Dawson Creek Peavey Mart, its first store, which opened in back in 1967.

Peavey Mart made the announcement in a Facebook post on January 28th. 

“As a proudly Canadian retailer with nearly 60 years of history, predominantly serving rural communities, we have faced the extreme pressures affecting Canadians across the country,” says the post. 

Unprecedented challenges, such as record-low consumer confidence, inflationary pressures, rising operating costs and ongoing supply chain disruptions contributed to the company’s eventual decision, it said.

“This was a profoundly difficult decision, but one that allows us to explore the best possible alternatives for the future of the Company,” says Doug Anderson, President and CEO of Peavey Industries LP.

According to the post, the company sought and obtained an Initial Order for creditor protection under the Companies Creditors Arrangement Act (CCAA) from the Court of King’s Bench Alberta.

“The decision to seek creditor protection and close all stores was made after a thorough evaluation of available options, in consultation with legal and financial advisors,” says the post. 

Monica Rogers, president of the Dawson Creek and District Chamber of Commerce, gave her reaction to the store’s closure. 

“It’s always sad to see a local business close their doors. It’s the age-old problem of attraction and retention, and we also have very transient communities,” said Rogers.

Begun by the American-based Peavey Company, the retailer peaked at a high of 85 stores in 2017 after acquiring Tractor Supply Company Canada’s 51 stores the previous year.

“For nearly six decades, our customers’ loyalty, employees’ dedication, and the resilience of the communities we serve have been the cornerstone of our business,” said Anderson.

Peavey Mart expressed its gratitude to its customers, saying when they choose to shop locally or support a Canadian retailer, they help make their community more prosperous.

“Through it all, we have remained committed to the values that define us. For decades, Peavey Mart has supported local events, funded charities, and worked to strengthen the communities we call home.”

Energeticcity.ca reached out to Peavey Mart representatives for comment but did not receive a response by publication time.