SAAN Stores
Encyclopedia
SAAN was a chain of discount department store
s 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 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 (prior to the company's sale by Gendis Inc. in 2004) 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. 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 Metropolitan Stores and Greenberg Stores; 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.
The company changed ownership for the first time in 2004 when Gendis Inc. sold the company to SAAN Acquisition Corp., an investor group associated with the Avalon Group of New York City.
After filing for bankruptcy protection for the second time in late 2007, SAAN announced in June 2008 that 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.
SAAN Stores Ltd. changed ownership again after it was bought on an asset basis (including most store leases and the SAAN and Red Apple names and trademarks) by Genuity Capital (through TBS Acquireco, parent company of The Bargain! Shop
) for about $15 million in August 2008 and SAAN and Red Apple locations were absorbed into the Bargain Shop chain. Eight SAAN stores (7 in Quebec and 1 in Ontario) were also sold to Hart Stores
, a chain in full development in eastern Canada, mainly known under Hart and Bargain Giant. Several locations were also picked up by Dollarama. Locations re-opened under the Bargain Shop!, Dollarama or Hart banners within several weeks.
Department store
A department store is a retail establishment which satisfies a wide range of the consumer's personal and residential durable goods product needs; and at the same time offering the consumer a choice of multiple merchandise lines, at variable price points, in all product categories...
s in Canada
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
that began in Winnipeg
Winnipeg
Winnipeg is the capital and largest city of Manitoba, Canada, and is the primary municipality of the Winnipeg Capital Region, with more than half of Manitoba's population. It is located near the longitudinal centre of North America, at the confluence of the Red and Assiniboine Rivers .The name...
, Manitoba
Manitoba
Manitoba is a Canadian prairie province with an area of . The province has over 110,000 lakes and has a largely continental climate because of its flat topography. Agriculture, mostly concentrated in the fertile southern and western parts of the province, is vital to the province's economy; other...
.
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 outlets in a number of communities (mostly smaller towns and cities) across Canada. The chain's head office was in Mississauga, Ontario
Ontario
Ontario is a province of Canada, located in east-central Canada. It is Canada's most populous province and second largest in total area. It is home to the nation's most populous city, Toronto, and the nation's capital, Ottawa....
and its main distribution centre and Stores' Support Office complex were located in Winnipeg (prior to the company's sale by Gendis Inc. in 2004) with an additional distribution outlet in Montreal
Montreal
Montreal is a city in Canada. It is the largest city in the province of Quebec, the second-largest city in Canada and the seventh largest in North America...
. 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
Albert D. Cohen
Albert Diamond Cohen, was a Canadian entrepreneur, community builder, philanthropist, and Officer of the Order of Canada. He was Chairman, Co-President and Co-Chief Executive Officer of Gendis Inc. , a Toronto Stock Exchange listed Canadian real estate and investment company headquartered in...
and Sam Cohen
Samuel N. Cohen
Samuel N. Cohen, CM, LL.D., was a Canadian entrepreneur, community builder, philanthropist, and Member of the Order of Canada. He is survived by his widow, Leatrice Cohen ; his two sons ; and his daughter Sheri.- Biography:He was born in 1918 to Alexander Cohen and Rose Diamond.Sam's five...
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. 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 Metropolitan Stores and Greenberg Stores; 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.
The company changed ownership for the first time in 2004 when Gendis Inc. sold the company to SAAN Acquisition Corp., an investor group associated with the Avalon Group of New York City.
After filing for bankruptcy protection for the second time in late 2007, SAAN announced in June 2008 that 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.
SAAN Stores Ltd. changed ownership again after it was bought on an asset basis (including most store leases and the SAAN and Red Apple names and trademarks) by Genuity Capital (through TBS Acquireco, parent company of The Bargain! Shop
The Bargain! Shop
The Bargain! Shop, also known as TB!S, is a discount variety store chain operating in all Anglophone provinces in Canada.The Bargain! Shop originated as a closeout store division of Woolworth Canada, developed out of some of the bankrupt assets of Bargain Harold's in 1991...
) for about $15 million in August 2008 and SAAN and Red Apple locations were absorbed into the Bargain Shop chain. Eight SAAN stores (7 in Quebec and 1 in Ontario) were also sold to Hart Stores
Hart Stores
Hart Stores Inc. is a junior mid-sized discount department store dominant in the region of Eastern Canada. It was founded in 1960 by Harry Hart, in Rosemère, Quebec. Hart stores are based in the provinces of Quebec, New Brunswick, Nova Scotia, Newfoundland and Labrador and Ontario...
, a chain in full development in eastern Canada, mainly known under Hart and Bargain Giant. Several locations were also picked up by Dollarama. Locations re-opened under the Bargain Shop!, Dollarama or Hart banners within several weeks.