Peaveymart, a Canadian farm and hardware chain with 90 locations across Canada, is shutting all 90 stores. This is another blow to the ongoing struggles that retail locations and chains are suffering.
Their disappearance will greatly affect rural communities across the country, not to mention the job losses that are crucial to the communities they serve.
As this trend continues, the retail industry will either have to redefine itself or succumb to the multinational big box stores, which control vast amounts of the supply chain.
Sadly, Canadians have moved to the point-and-click convenience of Amazon and Temus on the internet, probably without thinking about the damage this creates to local businesses or spending equally large amounts with Costco.
The monopolies that control the supply chain will more than likely celebrate Peaveymart's demise, but Canada and Canadians as a whole, whose service sector is now being decimated, can not continue to allow the retail industry to continue its downward spiral.
Small businesses employ many people in this country and struggle with high overhead costs. No one is considering the impact of their demise and the associated costs to Canadians.
This not only represents a loss in tax revenue but also another blow to the average Canadian spending budget,