Peavey Mart stated the Canadian retail industry is “experiencing unprecedented challenges” such as “record low consumer confidence, inflationary pressures, rising operating costs and ongoing supply chain disruptions,” creating significant obstacles for its operations.

Iconic Canadian retailer Peavey Mart confirmed Monday evening that it will be closing all of its stores across the country.

The company that owns Peavey Mart announced Monday night it is closing all the stores across Canada, including the six Manitoba locations. Peavey Industries, which is based in Red Deer, Alta.,

After almost six decades in business, Alberta-based Peavey Industries, “Canada’s largest farm and ranch retail chain,” announced the closure of all 90 of its Peavey Mart stores and six MainStreet Hardware locations, and immediate liquidation sales.

A Canadian farm goods store chain is closing all its stores and seeking creditor protection, putting an end to days of speculation about the chain's future from its customers, who now have to look for alternatives.