Bidder expresses interest in Value City stores

COLUMBUS, Ohio Retail Ventures announced Monday that it has agreed to give an unnamed third party a 25-day exclusivity period of due diligence related to the possible sale of all or the majority of its outstanding units of its Value City Department Stores.

Retail Ventures reported that there is no assurance that the interested party will in fact purchase the units, or if such a purchase is made, what the ultimate terms would be. 

The company added that the proposed acquisition will have no effect on its agreement with Burlington Coat Factory Warehouse, under which Burlington Coat Factory will assign or sublease up to 24 Value City Department Stores locations.