SAAN

Infobox_Defunct_Company
company_name = SAAN
company_
fate = Filed for bankruptcy, stores shut down
company_type = Discount store chain
foundation = 1947
defunct = 2008
location = flagicon|Canada Mississauga, Ontario
industry = Retail
products = Clothing, grocery, footwear, bedding, beauty products, and housewares.
parent = SAAN Stores Ltd.
homepage = http://www.saan.ca/

SAAN was a chain of discount department stores in Canada that began in Winnipeg, Manitoba.

SAAN had more than 350 stores in the late 1990s, but by May 2005, after it emerged from bankruptcy protection, this was reduced to 142 ["The Globe and Mail", "Struggling Saan seeks financing", 13 December 2007, p. B4] outlets in a number of communities (mostly smaller towns and cities) across Canada. The chain's head office was in Mississauga, Ontario and its main distribution centre and Stores' Support Office complex were located in Winnipeg with an additional distribution outlet in Montreal. SAAN also operated a small chain of clearance stores called Red Apple Clearance Centres.

SAAN (short for Surplus Army, Air Force, Navy) had its beginnings in Winnipeg in 1947, when founders Albert and Sam Cohen opened their first store on Main Street. Surplus items from the Canadian armed forces (hence the store's name) were the company's first supply source until its sales grew and more SAAN stores opened. ["Ibid."] From there, the number of stores grew to over 200 in western Canada and Ontario, focusing on clothing, footwear and accessories. SAAN expanded into eastern Canada in February 1997 with the acquisition of 89 locations once owned by other retailers including Greenberg's; that same year, the chain added hard goods such as kitchen items, bed and bath items, furniture, toys, housewares, stationery and health and beauty products to their product lines.

In June 2008, SAAN announced they would be closing all stores within 8-10 weeks, with a going-out-of-business sale being conducted by a joint venture group led by Great American Group LLC, which specializes in providing liquidation services. All remaining 126 stores closed within the following weeks, with some closing earlier than others.

References

ee also

* List of Canadian department stores

External links

* [http://www.saan.ca/ SAAN] , official website
* [http://www.rsmrichter.com/Restructuring/SAAN.aspx Public information on SAAN Stores restructuring made available by accounting firm RSM Richter]
* [http://www.saan.ca/wpromo05_eng.htm SAAN store closing sale]
* [http://www.saan.ca/SAANPRESSRELEASE.pdf Press Release announcing closure of all SAAN stores]