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Peavey Mart confirms all 90 stores will be closing

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11 minute read

From Retail Insider

 
Sources have confirmed to Retail Insider that Peavey Mart, a Canadian retail chain known for its agricultural supplies, hardware, and home improvement products, is closing all of its stores nationwide. Liquidation sales began on the weekend. The store closures include the flagship location in Red Deer, Alberta, where the company’s headquarters are also based. This marks a significant and surprising turn of events for a company with deep roots in Canadian retail, dating back to its establishment in Winnipeg in 1967.

(Update: Peavey Industries confirmed store closures on Monday evening in a press release)

A Legacy of Growth and Acquisitions

Peavey Mart has long been a staple for rural and small-town communities, catering to farmers, ranchers, and homeowners. Over the years, the company expanded from its Western Canada base into Ontario and other regions, particularly following its acquisition of TSC Stores in 2016. That move helped establish Peavey Mart as a household name in Ontario, diversifying its reach and bolstering its product offerings. It was also a huge expense.

In 2020, the company further broadened its scope by acquiring the Canadian master license for Ace Hardware from Lowe’s-owned RONA Inc., adding 107 Ace Hardware locations to its portfolio. This strategic acquisition was part of Peavey Industries’ efforts to compete in the hardware and home improvement sector against larger rivals like Home Depot and Canadian Tire.

However, Peavey’s relationship with Ace Hardware International came to an end in 2024, following the announcement that the partnership would cease on December 31, 2024. This decision marked a turning point for the company, forcing it to refocus on its Peavey Mart and MainStreet Hardware brands.

Financial Struggles and Early Signs of Trouble

Last week, Peavey Industries announced plans to shutter 22 underperforming Peavey Mart locations in Ontario and Nova Scotia by the end of April. At the time, the closures were presented as part of an organizational restructuring aimed at stabilizing the business and positioning it for future growth.

Doug Anderson, President and CEO of Peavey Industries, addressed the challenges in a previous statement:

“The Canadian retail environment has undergone significant disruptions in recent years, and Peavey has not been immune to these challenges. These closures are a challenging yet necessary step to stabilize and position our business for future growth.”

Despite these efforts, it now appears the company’s financial difficulties have proven insurmountable, leading to the closure of all 90+ stores across Canada.

Liquidation signs at Peavey Mart’s Red Deer store on Saturday, January 25. Photo: Joel Graham via Facebook

Financing and Restructuring Efforts Fall Short

In its bid to remain viable, Peavey Industries had secured a CAD $155 million financing package from Gordon Brothers. The package included a $105 million revolving credit facility, a $30 million term loan, and a $20 million consignment program. This financial injection was intended to facilitate restructuring efforts, support ongoing operations, and provide a lifeline to the struggling retailer.

Additionally, Peavey Industries collaborated with Gordon Brothers to ensure a smooth transition for affected employees and communities. However, these measures were ultimately insufficient to save the business.

Impact on Communities and Employees

The closure of Peavey Mart will leave a significant void in the Canadian retail landscape, particularly in rural and small-town markets where the chain has long been a trusted resource for agricultural and home improvement needs. The closures are also a major blow to the company’s workforce across the country.

While Peavey Industries initially expressed a commitment to supporting its employees during the transition, the abrupt announcement of a full shutdown leaves many workers and communities grappling with uncertainty.

Image: Peavey Mart
Image: Peavey Mart

A message from the Peace River Manager

In a heartfelt statement shared on Facebook, the manager of the Peace River, Alberta, Peavey Mart location expressed regret about the closures. The post sheds light on the situation and offers a glimpse into the company’s struggles over recent years. The manager wrote:

“Peace River Community,

It is with regret that I inform you of the upcoming closure of Peace River Peavey Mart, along with all other Peavey Mart locations across Canada. While many details are being kept confidential, I will keep you updated as we receive more information from the corporate team. At this time, I do not have a time frame; my best guess is 3 to 6 months.

Until an official statement is released by the company, I can only offer my personal perspective on the situation. Since 2016, Peavey Mart has expanded rapidly, acquiring over 70 stores in Eastern Canada, opening new stores, and acquiring several other businesses. However, growth was met with challenges, including a decline in business levels and rising interest rates. Unfortunately, many of the acquired stores did not prove profitable, and the company’s efforts to adjust did not have the desired results.

As a last resort, Peavey partnered with Gordon Brothers, an American investment firm, which I believe now holds a majority stake in the company and are making all decisions going forward. It appears the current plan may be to liquidate and close all locations, with potential rebranding, though which stores will remain open is still uncertain.

Please note that this is my personal opinion, and I am sharing it to help clarify the situation for our valued customers. I kindly ask that you direct any concerns toward our corporate offices, as these decisions are beyond the control of the staff here in the store.

We have worked diligently to serve you, and we appreciate your understanding during this time. It’s difficult to come to terms with the closure of so many profitable locations in Western Canada, with Peace River being one of the most notable. The Peace River location recently achieved top sales growth company-wide, consistently delivering a healthy profit despite Peavey’s constant inventory challenges.

I would like to express my sincere gratitude to all of our customers. It has been a pleasure serving the Peace River community, and I will miss it when our time here comes to an end. If you have any questions, please feel free to visit the store, and I will do my best to provide answers. At the current moment, the company has told us they are not ready to make a statement yet.”

Update: Press Release from Peavey Industries

Peavey Industries confirmed Monday evening that all Peavey Mart stores will be closing. The following is the press release that was forwarded by email to Canadian media sources:

Red Deer, Alberta – January 27, 2025 – Peavey Industries LP (“Peavey” or “the Company”), Canada’s largest farm and ranch retail chain, announced today that it has sought and obtained an Initial Order for creditor protection under the Companies’ Creditors Arrangement Act (CCAA) from the Court of King’s Bench Alberta.

Following the recently announced closures of 22 stores in Ontario and Nova Scotia, the Company will now begin store closing sales at all remaining locations across Canada. This includes 90 Peavey Mart stores and six MainStreet Hardware locations. The closures and liquidation efforts will commence immediately.

The decision to seek creditor protection and close all stores was made after thorough evaluation of available options, in consultation with legal and financial advisors. The Canadian retail industry is experiencing unprecedented challenges, including record-low consumer confidence, inflationary pressures, rising operating costs, and ongoing supply disruptions along with a difficult regulatory environment. These factors have created significant obstacles for businesses like Peavey.

“This was a profoundly difficult decision, but one that allows us to explore the best possible alternatives for the future of the Company,” said Doug Anderson, President and CEO of Peavey Industries LP. “For nearly six decades, our customers’ loyalty, employees’ dedication, and the resilience of the communities we serve have been the cornerstone of our business. We remain focused on working with our partners and stakeholders to preserve the Peavey brand and the value it represents.”

The Company’s immediate priority is to generate liquidity through the closure process while continuing to work with funders, partners, and stakeholders to explore potential opportunities to preserve the brand.

Peavey Industries LP is committed to providing regular updates as the situation develops.”

Craig Patterson

Craig Patterson

Located in Toronto, Craig is the Publisher & CEO of Retail Insider Media Ltd. He is also a retail analyst and consultant, Advisor at the University of Alberta School Centre for Cities and Communities in Edmonton, former lawyer and a public speaker. He has studied the Canadian retail landscape for over 25 years and he holds Bachelor of Commerce and Bachelor of Laws Degrees.

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‘The DNA Of Our Foreign Policy’: How USAID Hid Behind Humanitarianism To Export Radical Left-Wing Priorities Abroad

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From the Daily Caller News Foundation

By Thomas English

Behind the veil of humanitarian aid, the U.S. Agency for International Development (USAID) doled out billions in taxpayer dollars to engage in left-wing social engineering abroad — from rampant LGBT advocacy to diversity, equity and inclusion (DEI) programs and tech censorship.

President John F. Kennedy established USAID in 1961 to, in his words, “provide generously of our skills, and our capital and our food to assist the peoples of the less-developed nations to reach their goals in freedom.” The agency, though, has reinterpreted Kennedy’s mission statement to mean that Ecuador suffers from a lack of drag shows, that Peruvian comic books are too light on transgender representation, that the Serbian workplace is insufficiently welcoming to the homosexual community — while also offering social media platforms a host of creative tactics to suppress those who disagree with USAID’s social agenda.

“It’s probably one out of every three grants is totally insane left-wing nonsense … USAID has always been somewhat left, but when the Biden administration started, you can clearly see a huge uptick in spending,” Parker Thayer, who researches federal spending at Capital Research Center, told the Daily Caller News Foundation. “The amount of lunatic, fringe grants goes up dramatically. For example, if you go to USAspending[.gov] and search for the keyword ‘transgender,’ the graph is basically a vertical line when you hit 2021. It’s kind of remarkable.”

He also emphasized his discovery of a $13 million grant for an Arabic-language translation of “Sesame Street,” calling it “something else, man.”

Other programs include a $2 million grant for funding sex-change procedures in Guatemala, $500,000 for LGBT inclusion in Serbian workplaces, $70,000 for a DEI-themed musical in Ireland, a transgender clinic in Vietnam, a similar clinic in India,  $46,000 in HIV care for transgender South Africans, $1.5 million more for South African children to “learn through play,” $20,000 Bulgarians to enjoy a vaguely-defined “LGBT-related event” — programs for which former USAID Administrator Samantha Power said “a big pot of money” wasn’t enough.

These and other programs were the vehicle through which Power went about “working LGBT rights into the DNA of our foreign policy,” a priority she emphasized to Harvard students in 2015 during her tenure as U.S. Ambassador to the United States.

“One of the most common complaints you will get if you go to embassies around the world — from State Department officials and ambassadors and the like — is that USAID is not only not cooperative; they undermine the work that we’re doing in that country,” Secretary of State Marco Rubio, who assumed control over USAID on Monday, said. He condemned the agency’s more questionable programs as not only a waste of taxpayer dollars, but a diplomatic liability.

“They are supporting programs that upset the host government for whom we’re trying to work with on a broader scale,” he said.

Beyond pro-LGBT funding, former President Joe Biden’s USAID offered social media platforms a “disinformation primer,” a 100-page document providing guidance for countering “disinformation” through increased fact-checking and censorship — policies it said would make platforms more “democratically accountable.”

The document credits some of its content suppression tactics to the Global Engagement Center (GEC), a now-defunct agency that operated under the State Department. To “counter disinformation,” GEC recommended ginning up “moral outrage” against content that “violates [the] sacred value” of what it considers “the truth.”

Biden seemed to heed GEC’s guidance on moral outrage during the height of the pandemic in 2021, accusing Facebook of “killing people” by insufficiently censoring anti-vaccine content on the platform. Facebook founder Mark Zuckerberg recalled during his Jan. 10 appearance on “The Joe Rogan Experience” an instance when the Biden administration pressured him to censor a satirical meme about vaccine side effects. Biden later walked back his accusation against Facebook in an interview with CNN.

The USAID-funded primer also recommended “advertiser outreach,” a strategy that would financially throttle agency-disfavored informational outlets by informing advertisers of potential damage to brand reputation.

“[Advertisers] inadvertently are funding and amplifying platforms that disinform. Thus, cutting this financial support found in the ad-tech space would obstruct disinformation actors from spreading messaging online,” the Disinformation Primer reads. “Efforts have been made to inform advertisers of their risks, such as the threat to brand safety by being placed next to objectionable content.”

The document further characterized the legacy media’s recent decline “leading to a loss of information integrity,” which thereby justifies USAID’s efforts to combat those “casting doubt on media.”

“It leads to a loss of information integrity. Online news platforms have disrupted the traditional media landscape. Government officials and journalists are not the sole information gatekeepers anymore … Because traditional information systems are failing, some opinion leaders are casting doubt on media, which, in turn, impacts USAID programming and funding choices,” the document continued.

USAID also faced intense congressional scrutiny in 2023 after allegations emerged that its PREDICT program and subsequent grants to EcoHealth Alliance potentially funneled U.S. taxpayer funds into gain-of-function coronavirus research at the Wuhan Institute of Virology — which raised questions about USAID’s possible role in contributing to the origins of the COVID-19 pandemic.

 

Republican Kentucky Sen. Rand Paul complained that USAID refused to hand over documents pertaining to the allegations and the agency’s funding habits.

“The response I got from your agency was: ‘USAID will not be providing any documents at this time.’ They’re just unwilling to give documents on scientific grant proposals — we’re paying for it, they’re asking for $745 million more in money. We get no response,” Rand said. “We’re not asking for classified information. We’re not asking for anything unusual. 20 million people died around the world … and you won’t give us the basic information about what grants you’re funding — should we be funding the Academy of Military Medical Research in China?”

Secretary of State Marco Rubio echoed Rand’s transparency concerns after announcing he was the USAID’s new acting director Monday, calling the agency “completely uncooperative.”

 

“They’re one of the most suspicious federal agencies that exists,” Thayer told the DCNF, suggesting the agency’s reputation for being opaque is justified. “It’s kind of a character trait for USAID to be less than transparent.”

Thayer explained that, in his research, USAID is selective in its transparency. The grants he called “complete nonsense,” such as the “Sesame Street” translation, “are very specific about what they’re doing. And the ones that are vaguely humanitarian-sounding are usually written like someone put a sociology textbook through a word randomizer then just took whatever it spat out and put it on the page. They are so full of jargon words that they’re basically incomprehensible, even to people who understand what the jargon words are supposed to mean.”

“I got $1.1 million for a study of youth rural migration in Morocco,” he added. “I literally — I cannot help you in understanding what that could possibly mean. I have no idea what that means.”

Elon Musk, the leader of the Department of Government Efficiency (DOGE), claimed that he and President Donald Trump agreed to shutter the agency entirely during an X Spaces conversation early Monday morning. Rubio emphasized in a Tuesday interview with Fox News that he does not intend to “get rid of foreign aid,” but is considering whether USAID ought to be housed under State Department or remain an autonomous agency.

“This is not about getting rid of foreign aid,” Rubio said. “There are things we do through USAID that we should continue to do, that make sense. And we’ll have to decide: Is that better through the State Department, or is that better through a reformed USAID? That’s the process we’re working through … but they’re completely uncooperative. We had no choice but to take dramatic steps to bring this thing under control.”

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Things Are Going From Bad To Worse For The Permanent Bureaucratic State

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From the Daily Caller News Foundation

By Morgan Murphy

Welcome to the D.C. Thunderdome.

Thanks to DOGE and four wunderkind coders in Treasury’s basement, Americans learned this week that their government sent millions to fund a “DEI musical” in Ireland, a “transgender comic book” in Peru, electric vehicles in Vietnam, and an Anthony Fauci exhibit at the NIH Museum.

Faster than Ludicrous+ mode on a Tesla, the Trump admin’s new code bros are sifting through the financial ledger of America’s spending. Just 20 days in office and the new administration has saved the American taxpayer billions of dollars — exactly what Trump promised on the campaign trail. And as the president’s third week unfolded, news worsened for Democrats and America’s permanent bureaucratic state. 

It seems the permanent bureaucracy borrowed the U.S.S.R.’s media playbook, funneling millions to left-wing news organizations such as The New York Times, Politico and Reuters. Evidently it wasn’t enough that a Republican in the newsrooms of our state-run media outlets, PBS and NPR, is rarer than a cogent sentence from Kamala.

Democrats, meanwhile, have decided that this Deathstar boondoggle of government spending at its worst is the hill they want to die on. Conservatives watched with glee as Rep. Maxine Waters, Sen. Chuck Schumer, et al, led the Charge of the Lightweight Brigade to USAID’s former headquarters. Cue dopey chant: “wE Will wiN!” (2025 update—no, you didn’t).

Before all the spending porn (as the great Louisiana wag, Senator John Kennedy dubbed it), Democrats’ opinion polls were in the gutter, with a disapproval rating of 57%.

Do the Dems think rushing to the barricades to defend out-of-control spending will earn them the respect and admiration of the American public? Expect their approval ratings to continue to sink like the Hindentanic.

USAID is just the beginning.

Wait until DOGE bites into the Department of Defense, which has never passed an audit.

In 2019 while on reserve duty at the Pentagon, I was thrown into yet another meeting chockablock with PowerPoint slides, so beloved by our military. This particular meeting was to cover the results of a service-wide audit. To summarize about 187 slides and 2 hours: we failed.

All the top brass in the room somberly listened to the auditors describe $5 billion worth of missing aircraft engines, leases for buildings and land that did not exist, accounting systems closer in age to the abacus than a modern spreadsheet, and miles of missing debits and credits.

As the most junior officer in the room, I kept quiet but closely studied the faces of my superiors. They too, kept quiet, only murmuring “next slide” as disaster after financial disaster was flashed across the screens.

My inner fiscal hawk prayed that the service chief would flip the table over and channel  Col. Nathan “YOU CAN’T HANDLE THE TRUTH” Jessep. But he remained impassive and the meeting dissolved with a whimper and no plans for reform.

That night leaving D.C., I happened to bump into a very senior republican senator at Reagan National Airport and thought it my civic duty to share the (unclassified) events of earlier in the day. I told the venerable appropriator that the audit had revealed billions in waste, fraud, and abuse, and even suggested he should make a request to see the failed audit for himself.

(In the hindsight afforded by three years working in the U.S. Senate, I now know how utterly naive this moment was).

He paused a moment, then said, “Well, you know how these things are. That’s Washington for you.”

I felt sick at the time, which is likely the same feeling many Americans are having this week as they see the grift laid bare in our nation’s capital.

But the good news is that Trump and his DOGE team have restored the hope that government might be right-sized and returned to solid financial footing.

On Friday, when he was asked about the job Elon Musk is doing, the President remarked, “I think we’re going to be very close to balancing budgets for the first time for many years.”

What a tantalizing prospect — a government that spends within its means may truly bring about the golden age of America promised in the president’s inaugural address.

Morgan Murphy is military thought leader, former press secretary to the Secretary of Defense and national security advisor in the U.S. Senate.

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