- Retail Ventures
company_name = Retail Ventures, Inc.
company_type = Public (NYSE|RVI)
foundation = 2003
location = Columbus,
key_people = Jay Schottenstein, CEO
homepage = http://www.retailventuresinc.com/
Retail Ventures was originally created in
2003as a holding company for DSW (NYSE: DSW), Filene's Basement, and Value CityDepartment Stores. The retailer originally went public in 1991under the Value City moniker. Value City went on to purchase the DSWshoe business in 1998and Filene's Basementin 2000. Schottenstein Stores Corp.of Columbus, which holds controlling interest of Retail Ventures, also holds a stake in the 221-store DSW chain. Jay Schottenstein, chairman and CEO of DSW, is chairman of Retail Ventures and heads Schottenstein Stores Corp. Value City Stores were known as Schottenstein's in the Columbus, Ohiomarket in honor of its founder Ephraim Schottenstein, but the name was dropped after Value City was sold to Burlington Coat Factory. [ [http://findarticles.com/p/articles/mi_m5072/is_52_23/ai_81567253 Manufacturing - Barely Making the Grade - Schottenstein Stores Corp. buys wholesale operations of Bugle Boy Industries Inc - Brief Article - Statistical Data Included | Los Angeles Business Journal | Find Articles at BNET.com ] ]
Retail Ventures Inc stated in
December 2006that it had retained Financo, Inc.and CIBC World Markets Corp to advise it about "strategic alternatives," including a possible sale, for its Value City Department Stores division.
Retail Ventures Inc announced on
January 23, 2008the disposition of an 81% ownership interest in its Value CityDepartment Stores business to VCHI Acquisition Co., a newly formed entity owned by VCDS Acquisition Holdings, LLC, Emerald Capital Management LLC and Crystal Value, LLC. In connection with the sale, Retail Ventures, Inc.’s wholly owned subsidiary Filene’s Basement, Inc. entered into a $100 million secured credit facility with National City Business Credit, Inc. Terms of the credit facility are similar to the predecessor $275 million secured credit facility that was jointly shared with Value City Department Stores and was terminated and replaced as of the date of the transaction. This transaction does not impact Value City Furniture Stores, which are separately owned and operated. Retail Ventures, Inc. continues to operate 36 Filene's Basementstores in major metropolitan areas in the Northeast and Midwest and 259 DSW stores in major metropolitan areas throughout the country. DSW also supplies shoes, under supply arrangements, to 342 locations for other non-affiliated retailers in the United States [Press release 11/23/08 [http://www.retailventuresinc.com/PressReleases/2007/RVI_VCDS_SALE.pdf] , Retrieved January 23, 2008] . The number of employees and employee benefitsare planned to remain the same as this transfer of ownership occurs and the new owners begin to operate Value City. Other interests include Value City Furniture and American Brands Furniture.
Value CityDepartment Stores
*Value City Furniture
American Eagle Outfitters
*MARTIN + OSA
* [http://www.retailventuresinc.com/ RVI official website]
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