Aug. 27, 2025 "Peavey Mart to launch comeback in Alberta this fall": Today I found this article on BNN Bloomberg:
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
My opinion: I don't go there because they sell farm goods, and I don't live on a farm or garden. Let's see how long this store is going to last like Zellers coming back again this year:
Aug. 28, 2025 "Zellers returns — again — this time starting in Edmonton": Today I found this article by Anis Heydari on CBC:
https://www.cbc.ca/news/business/zellers-returns-again-edmonton-1.7620559
Aug. 29, 2025 "Zellers is back: Here’s where to find a new location": Today I found this article by Charlie Buckley on BNN Bloomberg:
Aug. 29, 2025 "Online retailer Ssense filing for bankruptcy protection": Today I found this articleby Anya Zoledziowski on CBC:
Montreal-based online fashion retailer Ssense plans to file for bankruptcy protection as its primary lender attempts to force a sale of the company, a Ssense spokesperson told CBC News in an email.
According to the company, its primary lender has placed Ssense under Companies' Creditors Arrangement Act (CCAA) protection in order to launch a sale.
(Requesting CCAA protection
prevents creditors from forcing an insolvent company into bankruptcy
and paves the way for financial restructuring.)
Ssense says that its lender made the move without the company's consent.
Now, Ssense plans to file its own CCAA application imminently to
"safeguard the company,
retain control of our assets and operations,
and fight for the future of this business,"
the statement said.
"This process will give us the time and stability we need
to restructure
on our terms,
protect the interests of our employees and partners,
and emerge stronger for the future."
The news follows a seemingly tumultuous year for Canadian retailers, with Hudson's Bay and Frank & Oak shuttering their doors nationwide earlier this year.
Ssense partly attributed its own struggles to
U.S. President Donald Trump's trade directives,
including the elimination of the U.S. de minimis exemption.
The exemption previously allowed packages worth $800 or less to travel to the U.S. from Canada duty-free
— a big help for Canadian retailers with a sizeable American consumer base.
Lisa Hutcheson, a retail strategist with Canadian retail consulting firm J.C. Williams Group, said many factors can make retailers vulnerable right now.
For instance, e-commerce companies, like Ssense, that specialize in luxury brands don't just compete with other Canadian brands; they compete with digital players from around the world. The demand for luxury brands is also softening amid inflation and economic uncertainty, Hutcheson said. Many Gen Z and Gen Alpha shoppers prefer to buy things in person, too, she added.
That means that, typically, there isn't a single cause driving a retailer's financial woes. "It's usually a perfect storm of operational challenges, economic pressures, and what's happening in the market," Hutcheson said.
According to Hutcheson, there is hope for Ssense, but the company has to take a look at how they can reposition themselves in such a volatile market.
Business of Fashion first broke the Ssense news on Thursday.
https://www.cbc.ca/news/business/ssense-montreal-retail-bankruptcy-1.7621089
No comments:
Post a Comment