The Saan store in Liverpool started liquidating its inventory May 31 to prepare for closure along with Saan’s 126 other stores.
“We’re liquidating our inventory as part of the reorganization that began on Dec. 28, 2007 When SAAN was granted a court order placing it under protection from creditors under CCAA (Companies Creditor Arrangement Act),” said Vice President of store operations, Michael Panich. “Since then the court along with the Court appointed Monitor, Mintz and Partners, approved and began a formal process for the sale of the assets of the company.”
In 1947 the first Saan store was constructed.
It sat on Winnipeg, Manitoba’s Main Street.
There are 126 store locations across Canada today.
The company expanded its inventory in 1997, as they moved east.
Soon they sold kitchen, bed, bath, furniture, toys and other products.
In a press release, it stated the liquidation process will take eight to ten weeks, with some stores closing sooner.
It also states the “going out of business sale will be conducted by a joint venture group consisting of Great American Group LLC and Hudson Capital Partners, LLC.”
“We are sad to see Saan closing their stores, but consumers will benefit from the extreme discounts on every item in the stores until all the merchandise is sold,” said vice president of Great American Group, Steven Smith.
The Saan store in Liverpool has a total of nine employees.
