SAAN Stores Ltd. was a Canadian chain of discount

department store A department store is a retail establishment offering a wide range of consumer goods in different areas of the store, each area ("department") specializing in a product category. In modern major cities, the department store made a dramatic app ...

s founded in

Winnipeg Winnipeg () is the capital and largest city of the province of Manitoba in Canada. It is centred on the confluence of the Red and Assiniboine rivers, near the longitudinal centre of North America. , Winnipeg had a city population of 749,6 ...

Manitoba Manitoba ( ) is a Provinces and territories of Canada, province of Canada at the Centre of Canada, longitudinal centre of the country. It is Canada's Population of Canada by province and territory, fifth-most populous province, with a population o ...

. SAAN is short for Surplus Army, Air Force, Navy. The chain's head office was in

Mississauga, Ontario Mississauga ( ), historically known as Toronto Township, is a city in the Canadian province of Ontario. It is situated on the shores of Lake Ontario in the Regional Municipality of Peel, adjoining the western border of Toronto. With a popul ...

, and its main distribution center and Stores Support Office complex were located in Winnipeg, with an additional distribution outlet in

Montreal Montreal ( ; officially Montréal, ) is the List of the largest municipalities in Canada by population, second-most populous city in Canada and List of towns in Quebec, most populous city in the Provinces and territories of Canada, Canadian ...

. SAAN also operated a small chain of clearance stores called Red Apple Clearance Centres. SAAN had more than 350 stores in the late 1990s; however, by May 2005, after it emerged from

bankruptcy protection Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor ...

, this was reduced to 142 outlets in a number of communities (mostly smaller towns and cities) across Canada.''The Globe and Mail'', "Struggling Saan seeks financing", 13 December 2007, p. B4

History

SAAN was established in 1947 by founders Albert and Sam Cohen, who opened their first store on Main Street in

. 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. From there, the number of stores grew to over 200 in

Western Canada Western Canada, also referred to as the Western provinces, Canadian West or the Western provinces of Canada, and commonly known within Canada as the West, is a Canadian region that includes the four western provinces just north of the Canada� ...

and

Ontario Ontario ( ; ) is one of the thirteen provinces and territories of Canada.Ontario is located in the geographic eastern half of Canada, but it has historically and politically been considered to be part of Central Canada. Located in Central Ca ...

, focusing on clothing, footwear and accessories. SAAN expanded into

Eastern Canada Eastern Canada (also the Eastern provinces or the East) is generally considered to be the region of Canada south of the Hudson Bay/Strait and east of Manitoba, consisting of the following provinces (from east to west): Newfoundland and Labrador, ...

in February 1997 with the acquisition of 89 locations once owned by other retailers including Greenbergs; that same year, the chain added

hard goods In economics, a durable good or a hard good or consumer durable is a good that does not quickly wear out or, more specifically, one that yields utility over time rather than being completely consumed in one use. Items like bricks could be consi ...

such as kitchen items, bed and bath items, furniture, toys, housewares, stationery and health and beauty products to their product lines. By the late 1990s, SAAN had more than 350 stores in the late 1990s. By May 2005, however, after it emerged from

, this was reduced to 142 outlets in a number of communities (mostly smaller towns and cities) across Canada. In June 2008, SAAN announced they would be closing all stores within 8 to 10 weeks, with a going-out-of-business sale being conducted by a joint venture group led by Great American Group LLC, which specialized in providing

liquidation Liquidation is the process in accounting by which a company is brought to an end in Canada, United Kingdom, United States, Ireland, Australia, New Zealand, Italy, and many other countries. The assets and property of the company are redistrib ...

services. All remaining 126 stores closed within the following weeks, with some closing earlier than others. Most of the chain's locations and its intellectual properties were bought on an asset basis by TBS Holdings, owner of

The Bargain! Shop The Bargain! Shop Holdings, Inc., also known as TB!S, is a Canadian discount variety store chain operating in all English language, Anglophone Provinces and territories of Canada, provinces in Canada. The Bargain! Shop originated as a closeout s ...

chain, in August 2008.

References

External links

Public information on SAAN Stores restructuring made available by accounting firm RSM Richter
{{Retail-company-stub Department stores of Canada Clothing retailers of Canada Defunct retail companies of Canada Retail companies established in 1947 Retail companies disestablished in 2008 Discount stores Companies based in Mississauga

History

See also

References

External links