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.
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