STAFF WRITER
Peavey Industries LP (Peavey) has announced the closure of its Peavey Mart location in Smiths Falls as part of a broader plan to close 22 stores across Ontario and Nova Scotia.
“This difficult decision marks an initial step in the company’s ongoing efforts to address challenges in the Canadian retail market and strengthen its operations for long-term sustainability,” the company said in a media release on Jan. 21.
The closure of the Smiths Falls location, along with others across the region, reflects Peavey’s strategy to optimize its retail footprint by reallocating resources to markets with stronger performance. The company has engaged Gordon Brothers Realty Services, LLC, a global leader in real estate advisory, to ensure a smooth transition for employees, customers, and community stakeholders.
“The Canadian retail environment has faced significant disruption over recent years, and Peavey has not been immune to these challenges,” said Doug Anderson, President & 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.”
Peavey Industries has emphasized its gratitude to employees and the communities impacted by these closures. “To our employees, we cannot thank you enough for your hard work, resilience, and passion,” the company stated in a release. “You have been the heart of Peavey Mart, and your contributions have left a lasting legacy. To the communities we have served, we are grateful for the trust and loyalty you have shown over the years. We know how much the Peavey Mart brand means to you, and we want to thank you for the years of support.”
Jest Sidloski, Vice President of Customer Experience, reinforced Peavey’s commitment to its customers, saying, “We fully understand the challenges these changes bring to our employees, customers, and the communities we serve. While these closures are a necessary step, we remain committed to returning to the value-driven, reliable service our customers have come to expect over the past six decades. This is only the beginning of a larger effort to strengthen our operations, and we ask for your continued patience and support as we adapt to better serve you in the future.”
In addition to Smiths Falls, Peavey Mart locations in Arnprior, Brockville, Cornwall, Kingston, and other communities in Ontario and Nova Scotia will also close by or before the end of April 2025.
Karen Dilon, chief financial officer, acknowledged the critical role of partnerships during this transition. “The support of our vendors and partners has been instrumental in this process. By making these strategic adjustments, we aim to build a more resilient business that can foster stronger partnerships and better meet the needs of our customers and communities.”
Peavey Industries assures customers and stakeholders that these closures represent the beginning of a comprehensive restructuring process. The company will continue to evaluate its operations and respond to the evolving needs of the business to ensure future success.
Store closures include: Arnprior, Bedford, Bowmanville, Brockville, Chatham, Collingwood, Cornwall, Goderich, Grimsby, Kingston, Kitchener, Lambeth, Mount Forest, New Liskeard, Sarnia, Smiths Falls, St. Catharines, St. Jacobs, St. Thomas, Sudbury, Woodstock, and Uxbridge. Additionally, the organization’s Rockland and Hyde Park locations are closing, which had been announced by the company earlier.
