Thank you for sharing!

Your article was successfully shared with the contacts you provided.

COLUMBUS, OH-Retail Ventures Inc. is in talks to sell its Value City department-store chain, according to a company statement. Management is not saying who is bidding for the concept, but did reveal that the bidder gets a 25-day exclusivity period during due diligence.

The sale would include about 89 Value City stores. Burlington Coat Factory is currently engaged with Retail Ventures in a deal to acquire up to 24 Value City units, which will not be included in the larger portfolio sale. The Burlington Coat venture is scheduled to close during next year’s first quarter.

Value City has recently recorded poor sales performances. During its third quarter, which ended Nov. 3, same-store sales plummeted 13.4% year over year, while total sales dropped to $298.4 million from $341.2 million the same year-ago period.

Retail Ventures executives said last December that they were exploring options for Value City, but have not made any official announcements about the chain.

Retail Ventures also owns the 36-unit Filene’s Basement department-store chain and a 60% interest in the 250-store shoe retailer DSW Inc. Total sales both of those concepts increased year over year during the third quarter.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE Fall 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.