All Peavey Mart farm-goods stores will close as the chain’s parent company proceeds through a court-supervised restructuring process.

Red Deer, Alta.-based Peavey Industries LP said the closures will affect 90 Peavey Mart stores and six MainStreet Hardware locations across Canada. The chain has operated since 1967 primarily in rural markets, selling farm equipment as well as a variety of goods and lawn furniture.

Almost half of the stores (42) are based in Western Canada, while most (46) are located in Eastern Canada, according to a court filing.

“The closures and liquidation efforts will commence immediately,” the company stated in a news release.

Peavey initially announced 22 store closures in Ontario (21) and Nova Scotia (1) but decided soon afterward to shut down the entire chain. The company has obtained an initial order for creditor protection from the Alberta Court of King’s Bench in accordance with the Companies’ Creditor Protection Act.

“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, the company’s president and CEO, in the news release.

The retailer has cited the lingering effects of the COVID-19 pandemic, inflation, supply-chain disruptions, and high operating costs as key challenges that prompted the decision.

“We remain focused on working with our partners and stakeholders to preserve the Peavey brand and the value it represents,” said Anderson.

The closures come as the country’s agriculture industry braces for the effects of U.S. President Donald Trump’s 25% tariffs on imports from Canada and anticipated countervailing duties.

Peavey urged Canadians to support local businesses.

“Every time you choose to shop locally or support a Canadian retailer, you help make your community more prosperous,” said the company. “By choosing Canadian retail businesses, you ensure that dollars stay within Canada, supporting the people, organizations, and livelihoods that enrich our communities.”​

The company said its 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.

FTI Consulting is the proposed court monitor.