City Discount Furniture Value

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 close up to twenty-four stores, and to sell the remainder 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. 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.

Despite the departure of Value City stores, the name lives on in Value City Furniture and in the Value City Arena at the Jerome Schottenstein Center at The Ohio State University in Columbus, OH.

References

  1. ^ David Greenberg (2001-12-31). "Manufacturing". Bnet Business Network . http://findarticles.com/p/articles/mi_m5072/is_52_23/ai_81567253 . Retrieved 2008-07-20 .  
  2. ^ Amy Saunders (2007-09-22). "Value City struggles to find a buyer". The Columbus Dispatch . http://www.columbusdispatch.com/live/content/business/stories/2007/09/22/value_city.ART_ART_09-22-07_C16_FI7VPGG.html?sid=101 . Retrieved 2008-07-20 .  
  3. ^ http://money.cnn.com/news/newsfeeds/articles/prnewswire/CLW08303102007-1.htm
  4. ^ "Fate of Value City store is unknown following sale". The-Review.com . Alliance Publishing Co. 2008-01-30 . http://www.the-review.com/news/article/3223371 . Retrieved 2008-07-20 .  

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