Yellowknife (Feb 02/05) - Eighteen Saan employees are waiting on pins and needles to hear whether they will keep their jobs and if the Yellowknife store will remain open.

Thus far, all of the workers - 10 full-time and eight part-time - are sticking with the company, said manager Mary Chipman.

Even though the store is now sporting a large yellow banner proclaiming, "store closing," there is little information filtering down to the staff working in the Saan's Yellowknife location, she said.

National Saan spokesman Greg Crombie said he didn't believe the Yellowknife location is one of the stores that is closing.

On Jan. 6, Saan sought and obtained bankruptcy protection through a court order.

The company had 223 stores and plans to keep between 125 and 150 locations after a store-by-store analysis is done.

"There are store closing signs up and liquidation sale signs up," said Crombie. "Each store gets assessed on an individual basis with the landlords."

The Saan store spokesman also said the chain has lost $47 million over the last six years.

He said restructuring was necessary.

"The next few weeks we will be determining which ones will remain open and move forward in April," said Crombie.

Saan is also in the midst of negotiating with landlords and looking to reduce its rent costs.

But Kim Donais, spokesman for Kim Holdings - landlord of the Yellowknife Saan store - said he has not been contacted by the company.

"They have 220 stores and I don't know how many landlords they've got, but they haven't gotten to us yet," said Donais.

Donais added once his company is approached, he'd be willing to listen to what Saan executives have to say, adding it would be easier for business to continue as it has in the past as opposed to finding a new tenant for the Frame Lake Plaza property.

"Every situation is different," said Donais.

"Many landlords have this happen. There's always some company that can't make it and we have to deal with it."