A Peterborough footwear business with roots stretching back more than four decades has entered a new chapter of family ownership.
Theresa Thibadeau and Mark Walsh officially took ownership of Grady’s Feet Essentials from Kelli and Tony Grady on Tuesday (September 1), as the longtime owners retired after almost 30 years at the helm of the independent business.
The transition was marked with a ribbon-cutting ceremony at the store at 231 King Street in downtown Peterborough. Thibadeau, who previously was an employee of the business, cut the ribbon along with Walsh while the Gradys held either end, before Kelli and Tony presented the new owners with an oversized key symbolizing the transfer of the business.
“When my dad started this business in 1984, we could never have imagined the journey ahead,” Tony said in a media release.
“Kelli and I are proud of what our family, staff and community helped build, and we could not be happier that Theresa and Mark are leading its next chapter. Theresa knows this business, our customers, and what makes the Grady’s experience special.”
Grady’s began in the home of Tony’s father, Ken Grady Sr., who visited customers to make custom-moulded orthotics under the name Grady’s Orthopaedic Service.
The business opened its first storefront on Hunter Street in 1985 as Grady’s Shoes and Orthopaedic Services, before moving to 386 George Street North the following year. Tony, who began working for his father while attending high school in 1986, purchased the business with Kelli in 1997.
As kawarthaNOW reported when Grady’s celebrated its 40th anniversary in 2024, the couple renamed the store Tony Grady’s Shoe Tree and shifted its focus toward comfortable, durable footwear.
To distinguish the business from competing downtown shoe stores, the Gradys set out to become the region’s leading Birkenstock retailer. The store would eventually add dozens of comfort-focused brands, including Blundstone, New Balance, Brooks, Clarks, Keen, Teva, Redback, and Finn Comfort.
In 2000, the Gradys expanded to Lansdowne Place, initially selling footwear from a cart near the mall’s escalators. The operation later grew to two carts before moving into a permanent upper-level storefront in 2005.
The store, by then rebranded as Grady’s Feet Essentials, became the mall’s top-performing retailer per square foot in its category for several years, according to Tony.
The Gradys purchased the long-vacant building at 231 King Street in 2018, restoring it for use as office and inventory space. When pandemic restrictions forced the mall to close, the building’s street-level outdoor entrance allowed the business to continue serving customers.
The company was also positioned to adapt because it had launched an online store in January 2020 and acquired an electric delivery vehicle shortly before the pandemic. Positive feedback from customers and staff ultimately led Grady’s to leave Lansdowne Place and move its entire retail operation to King Street in 2022.
As for Thibadeau, she first worked at Grady’s in her twenties and returned in 2016 after gaining additional experience in retail and accounting. In recent years, she has handled ordering, inventory control, scheduling, accounting, social media, and store operations, while continuing to serve customers.
“Owning my own store has been a dream for a long time, and a lifetime of experience has brought me to this moment,” she said.
“I am honoured to build on what Kelli and Tony have created,” Thibadeau added. “Our customers can continue to count on the comfortable footwear, knowledgeable fitting, and personal service they know and love, while Mark and I bring our own energy and ideas to the business.”
For his part, Walsh has more than 20 years of automotive-industry experience and a first-hand appreciation for comfortable safety footwear. He plans to expand the store’s safety-footwear selection and is training to provide Birkenstock repair and Blundstone care services.
The ownership transition follows a final charitable contribution made by Kelli and Tony through the business: a $5,000 donation to the Rotary Accessible Playground Project at Riverview Park and Zoo. The couple also made a personal donation through the project’s Buy a Brick campaign.
The gift continues a history of community involvement by Tony and Kelli that has included support for 4th Line Theatre, New Stages Theatre, Peterborough’s Dragon Boat Festival, and Community Care Peterborough’s foot clinic.
Kelli and Tony have also served on the Rotary Club of Peterborough’s board of directors and received the club’s Paul Harris Fellow Award in 2023 for their contributions.
Grady’s Feet Essentials will continue operating at 231 King Street and online at feetessentials.com under Thibadeau and Walsh’s ownership. Throughout September, customers can enter draws to win footwear from Kizik and Finn Comfort.
With files from Megan Gallant.
