Value City
Encyclopedia
Value City was an American discount department store
chain with 113 locations. It was founded in 1917 by Ephraim Schottenstein, a travelling salesman in central Ohio
. The store was an off-price retailer that sold clothing, jewelry, and home goods below the manufacturer suggested retail price. The chain focused on buyout and closeout merchandise, and occasionally irregular apparel and factory seconds. The stores were branded Schottenstein's in the Columbus, Ohio
, market and Valley Fair in the Northern New Jersey
market. The Schottenstein name was dropped in 2008.
The first store was located in Columbus, Ohio
, at 1887 Parsons Avenue on the corner of Parsons Avenue and Reeb Avenue, and has been closed since 2006. It was formerly affiliated with Value City Furniture, which has 130 stores and was founded in 1948 (VCF is corporate sponsor of Value City Arena, home of the Ohio State University
women and men's basketball
programs).
Retail Ventures originally sought to sell the Value City operation to focus on its more profitable brands. The chain announced its intention in 2007 to sell up to twenty-four stores to Burlington Coat Factory
. However, on January 23, 2008, Retail Ventures announced it was selling an ownership stake in Value City to newly formed VCHI Acquisition Company. The company continued to close selected stores through 2008 while revamping and reorganizing the merchandise approach in those which were retained. On October 27, 2008, Value City announced that the chain was filing for bankruptcy and that all remaining stores would close. The sales were completed on December 23, 2008.
Department store
A department store is a retail establishment which satisfies a wide range of the consumer's personal and residential durable goods product needs; and at the same time offering the consumer a choice of multiple merchandise lines, at variable price points, in all product categories...
chain with 113 locations. It was founded in 1917 by Ephraim Schottenstein, a travelling salesman in central Ohio
Ohio
Ohio is a Midwestern state in the United States. The 34th largest state by area in the U.S.,it is the 7th‑most populous with over 11.5 million residents, containing several major American cities and seven metropolitan areas with populations of 500,000 or more.The state's capital is Columbus...
. The store was an off-price retailer that sold clothing, jewelry, and home goods below the manufacturer suggested retail price. The chain focused on buyout and closeout merchandise, and occasionally irregular apparel and factory seconds. The stores were branded Schottenstein's in the Columbus, Ohio
Columbus, Ohio
Columbus is the capital of and the largest city in the U.S. state of Ohio. The broader metropolitan area encompasses several counties and is the third largest in Ohio behind those of Cleveland and Cincinnati. Columbus is the third largest city in the American Midwest, and the fifteenth largest city...
, market and Valley Fair in the Northern New Jersey
New Jersey
New Jersey is a state in the Northeastern and Middle Atlantic regions of the United States. , its population was 8,791,894. It is bordered on the north and east by the state of New York, on the southeast and south by the Atlantic Ocean, on the west by Pennsylvania and on the southwest by Delaware...
market. The Schottenstein name was dropped in 2008.
The first store was located in Columbus, Ohio
Columbus, Ohio
Columbus is the capital of and the largest city in the U.S. state of Ohio. The broader metropolitan area encompasses several counties and is the third largest in Ohio behind those of Cleveland and Cincinnati. Columbus is the third largest city in the American Midwest, and the fifteenth largest city...
, at 1887 Parsons Avenue on the corner of Parsons Avenue and Reeb Avenue, and has been closed since 2006. It was formerly affiliated with Value City Furniture, which has 130 stores and was founded in 1948 (VCF is corporate sponsor of Value City Arena, home of the Ohio State University
Ohio State University
The Ohio State University, commonly referred to as Ohio State, is a public research university located in Columbus, Ohio. It was originally founded in 1870 as a land-grant university and is currently the third largest university campus in the United States...
women and men's basketball
Basketball
Basketball is a team sport in which two teams of five players try to score points by throwing or "shooting" a ball through the top of a basketball hoop while following a set of rules...
programs).
Retail Ventures originally sought to sell the Value City operation to focus on its more profitable brands. The chain announced its intention in 2007 to sell up to twenty-four stores to Burlington Coat Factory
Burlington Coat Factory
Burlington Coat Factory Warehouse Corporation is a national department store retailer focusing on clothing and shoes, with over 450 stores in 45 states and Puerto Rico.. In 2006, it was acquired by Bain Capital, LLC in a take-private transaction...
. However, on January 23, 2008, Retail Ventures announced it was selling an ownership stake in Value City to newly formed VCHI Acquisition Company. The company continued to close selected stores through 2008 while revamping and reorganizing the merchandise approach in those which were retained. On October 27, 2008, Value City announced that the chain was filing for bankruptcy and that all remaining stores would close. The sales were completed on December 23, 2008.