Collingwood's Peavey Mart is closing soon and has already started liquidating items.
It is one of 22 Peavey Mart locations closing across Ontario and Nova Scotia in a move the company says ensures "future sustainability."
"The closures are part of a measured strategy to optimize Peavey’s retail footprint, focusing on reallocating resources to markets with stronger performance while addressing underperforming locations," states a news release from Peavey.
Doug Anderson, president and CEO of Peavey Industries LP said the company has been facing challenges of a "significant disruption" in Canadian retail in recent years.
“We recognize that difficult decisions like these are necessary to create a more stable foundation for the long-term success of our business," said Anderson in the news release. "While this is a step forward, it’s part of an ongoing process to adapt and rebuild in response to changing market dynamics.”
The Collingwood store is scheduled to close by April 2025 along with stores in Arnprior, Bedford, Bowmanville, Brockville, Chatham, Cornwall, Goderich, Grimsby, Kingston, Kitchener, Lambeth, Mount Forest, New Liskeard, Sarnia, Smiths Falls, St. Catharines, St. Jacobs, St. Thomas, Sudbury, Woodstock, and Uxbridge.
Peavey Marts in Rockland and Hyde Park locations are also closing, as previously announced.
