Rural Retail is TooT A Hit across Southwestern Ontario.
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Peavey Industries, The Store Chain That Caters to the Agricultural Community, is Shutting Down Stores Across the Region, Citing A Downurn in Business, The Alberta-Based Chain Has Announced.
London Will Lose Stores in Hyde Park and the Region Will See Stores Close in St. Thomas, Mount Forest, Goderich, Sarnia, Woodstock and Chatham by the End of April.
Its Store on Dundas Street In London Will Remain Open.
The closings are part of a “measured strategy” to focus on strong marketes and MOVE AWAY FROM “UnderperForming Locations,” Company Officials Said in Stament.
In Total 22 blinds will close, included some in nova scotia.
Peavey now has more than 90 Stores Operating Under the Banners of Peavey Mart and Mainstreet Hardware.
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“The Canadian Retail Environment has been faced with meaning over recent years, and peavey has not been immune to these challenges,” Said Doug Anderson, Chief Executive of Peavey Industries.
“We recognize that difficult decisions like these are necessary to create a more stable foundation for the long-term success of our business. It’s part of an Ongoing Process to Adapt and Rebuild in Responsible to Changing Market Dynamics. ”
At the end of last year, peavey agreed to a funding package of up to $ 155 million with gordon brothers to fund a restructuring of the retailer.
Peavey Mart Bough the London-Based TSC Stores Chain in 2017. TSC was the Canadian Arm of Chicago-Based Tractor Supply Co. and at One Point Had 49 Stores in Ontario and More than 1,000 Employees. It was headquartred on oxford street east. In 2021, TSC Stores Were Converted to the National Peavey Mart Banner.
Other stores Closed Include: Arnprior, Bedford, Bowmanville, Brockville, Collingwood, Cornwall, Grimsby, Kingston, Kitchener, New Liskeard, Smiths Falls, St. Catharines, St. Jacobs, Sudbury, Uxbridge and Rockland.
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