Peavey Mart is making a comeback this fall – but only in Alberta, for now.
According to a statement on the farm retailer’s website, which has since been removed, Peavey Mart stores are now owned by 2707162 Alberta Ltd., an investment group that is relaunching the brand without bank debt.
The retailer operated nearly 100 stores across the country before closing its doors earlier this year, citing low consumer confidence, high inflation, rising costs and supply disruptions.
“We know that the closure of Peavey Mart stores left a gap for many customers,” said Peavey Industries LP president and CEO Doug Anderson in the statement.
Peavey Mart says it will relaunch locations in Spruce Grove, Westlock, Camrose and Lacombe.
“Our investors and ownership group recognizes the importance of Peavey Mart in the Canadian retail landscape, and we’re grateful for the opportunity to relanch the brand in these communities,” said Anderson.
The statement said the ownership group secured rights to the store’s namesake and associated intellectual property from the defunct Peavey Industries LP in April with the goal of opening seven to 12 stores in Alberta and Saskatchewan.
The company has secured a 40,000 square-foot distribution space in Red Deer, where Peavey Mart’s headquarters was located.
In the most recent statement from Peavey Mart, it said the initial announcement was made public and shared prematurely.
More information on the relaunch is to be released in the coming weeks.
With files from The Canadian Press
