On the outside, it may look like SAAN in Port Elgin is closing for good.
But Vice President of Store Operations Mike Panich says it may not.
Saan went under court protection from creditors December 28th of 2007.
He says as a part of that reorganization was a court sanctioned liquidation of inventory in all 126 stores.
Panich says it’s part of a process formalized to sell the assets of the company.
He says the court ordered monitor is continuing to work with interested parties however, who may want to take over the business.
He says one option is to have someone acquire the assets of the company; if that happens before inventory is sold, and the store can officially close, the store would remain open.
Panich says it could remain a SAAN, or, the party purchasing SAAN could change it to something completely different.
He says in the meantime, sales continue at all SAAN Stores until further notice.
Panich says the 15-20 full and part time employees have their jobs until further notice as well.
He does not have a time frame for when the store could officially close; saying it could be weeks, or months, or not at all
