Peavey Mart closing 22 Ontario stores in 2025, part of restructuring

What’s going on at Peavey Mart?

Peavey Industries LP (Peavey) is planning to close 22 Peavey Mart locations in Ontario before the end of April 2025.

In a statement, the company called the closures a “critical, but initial phase” of its restructuring.

“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,” the statement reads.

Which Peavey Mart stores are closing in Ontario?

The following locations in the province are set to close before the end of April:

However, the company has since obtained creditor protection and confirmed that it’s closing all 90 of its Canadian locations.

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How does bankruptcy affect current employees?

Bankruptcies in Canada often lead to layoffs. Additionally, terms of employment (i.e. salaries, benefits, etc.) could change.

LEARN MORE
• Changes to your job in Ontario: Employee rights
• What Albertans need to know about changes to their job
• Job changes in British Columbia: What employees need to know

However, the specific effects depend on whether your employer is shutting down permanently or restructuring so that it can continue to operate.

New year, major layoffs

The decision to close all of Peavey Mart’s locations in Canada comes amid a flurry of layoffs to kick off 2025.

Big names, including Shopify, BP, Microsoft, Meta, Hudson’s Bay and Wayfair, are scaling back their staffing levels as they continue to navigate challenging economic conditions.

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• Canada’s immigration department slashing workforce by 25%
• Amazon Layoffs: Nearly 14,000 managers could be axed to cut costs
• Where are layoffs happening in Canada?

Disclaimer: The materials above are provided as general information about the rights of non-unionized employees in Canada. It is not specific to any one company and SHOULD NOT be read as suggesting any improper conduct on the part of any specific employer, or a relationship between Samfiru Tumarkin LLP and a specific employer.