I've always found it a bit strange that Peavey never gave the direct sales model a shot. It worked pretty well for Carvin for decades, and in my view, Peavey's gear was at least on par with what Carvin built for years, and arguably better...
I'm sure in their 1980s heyday, with their "for musicians on a budget" angle, they were moving a decent amount of gear in the brick n' mortars, but I have to think they were generally lagging behind the more highly-regarded brands. And when they
really started to see the writing on the wall - whenever that would have been (late 1990s? 2000s?), you'd think they'd have maybe pivoted to a new business model. Perhaps they'd have even been able to keep building stuff in the USA?
In fact, had Peavey transitioned to a direct sales model, they could/very likely WOULD now be the leader in that segment, given that Carvin is essentially a shadow of what it once was (ie., they don't build a single bass or guitar amplifier anymore).
My first "real" amp was a good ol' Peavey TKO75. I'd love to get my hands on one again, for nostalgia's sake if nothing else...