With the announcement of Peavey Mart closing stores across the county, concerns for Murphy and Bella have been expressed in Lloydminster.
An individual connected to the company said they have received multiple inquiries about Murphy and Bella. They indicated to the Meridian Source the feline duo will be well taken care of when the Peavey Mart doors finally close.
“We’ve got that covered, they will be fine,” said the individual.
Peavey Industries LP, Canada’s largest farm and ranch retail chain, has filed for creditor protection under the Companies’ Creditors Arrangement Act.
The Alberta-based company says it will begin closing its 90 Peavey Mart stores and six MainStreet Hardware locations across Canada. This follows the recent closure of 22 stores in Ontario and Nova Scotia.
The store in Lloydminster now has 10-30 per cent sale signs throughout the facility. It also notifies customers that all sales are final. Nearly two dozen staff members will also lose their jobs when the store closes.
Peavey stated that, after consulting legal and financial advisors, the company has decided to seek creditor protection and cease operations. The company cited low consumer confidence, inflation, rising costs, supply chain disruptions, and regulatory challenges as factors behind its struggle
“This was a profoundly difficult decision,” said Doug Anderson, president and CEO. “For nearly six decades, our customers’ loyalty and our employees’ dedication have been the foundation of our business.”
A social media post on Jan. 28 thanked customers and added to the original closure notice.
“We have seen your comments, your posts, your stories and have felt all of them at our very core. We acknowledge how difficult this has been for our staff, our customers and our communities,” stated the post. “Your unwavering support has been the backbone of our organization’s history.”
The company’s focus now is to generate funds through store closures while working with partners to explore ways to preserve the Peavey brand.
Peavey Industries says it will provide updates as the situation unfolds.
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