Value City
Defunct American off-price department store chain known for closeout, buyout, and irregular merchandise.
Last updated August 31, 2026
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Overview
Value City was an American discount department store chain whose roots went back to 1917, when Ephraim Schottenstein established the first store in Columbus, Ohio. The business developed around an off-price retail model: it sold clothing, jewelry, home goods, and other department-store merchandise at prices below manufacturers' suggested retail prices. Rather than relying primarily on conventional seasonal assortments, Value City emphasized buyouts, closeouts, irregular apparel, factory seconds, and other opportunistically purchased merchandise. This approach allowed the chain to offer variable assortments and aggressive prices, although it also meant that product selection could differ substantially from one store to another. The original store operated at 1887 Parsons Avenue at the corner of Parsons Avenue and Reeb Avenue in Columbus. In its home market, stores were historically branded Schottenstein's, reflecting the family's name and local retail identity. The Schottenstein designation was ultimately removed from the department stores in 2008. In the Detroit metropolitan area, three locations were co-branded as Crowley's Value City, linking the chain with the Crowley's department-store name. Value City expanded beyond its original central Ohio base over time. It entered the St. Louis, Missouri, market in 1995, initially opening a location in Webster Groves when the chain had 79 stores. In 1999, it acquired the Grandpa's discount chain, adding 15 stores in the St. Louis area. The company was also associated with other Schottenstein retail activities. From 1984 to 1995, the Schottenstein family owned Shifrin-Willens, a jewelry business, while Value City was formerly affiliated with Value City Furniture, a separate furniture operation founded in 1948. The furniture business later operated independently and sponsored Value City Arena at The Ohio State University. At its height, Value City Department Stores operated 113 locations. In the 2000s, however, its parent organization, Retail Ventures, sought to concentrate on more profitable retail brands and considered disposing of the Value City operation. In 2007, the chain announced plans to sell as many as 24 stores to Burlington. The proposed restructuring did not resolve the business's financial and operational difficulties. On January 23, 2008, Retail Ventures announced the sale of an ownership interest in Value City to the newly formed VCHI Acquisition Company. The chain closed selected stores during 2008 while attempting to reorganize its merchandise strategy and revise the operations of the locations it retained. Those efforts were unsuccessful. On October 27, 2008, Value City announced that it was filing for bankruptcy and that all remaining department stores would close. Liquidation sales were completed on December 23, 2008, ending the department-store chain's operations. The Value City name continued to be associated with the separate Value City Furniture business, but that furniture company should not be confused with the defunct Value City department-store chain described here.
History
Value City began in 1917 in Columbus, Ohio, under Ephraim Schottenstein, a traveling salesman who established the chain's first store at 1887 Parsons Avenue at the intersection with Reeb Avenue. The business eventually became an off-price department-store chain, offering clothing, jewelry, home goods, and other merchandise at discounts to manufacturers' suggested retail prices. Its purchasing model centered on closeouts, buyouts, irregular apparel, factory seconds, and other nontraditional inventory sources. This gave Value City a bargain-oriented identity and enabled it to maintain flexible assortments, but it also made the shopping experience dependent on the availability of opportunistic merchandise. The chain used the Schottenstein's name in the Columbus market for much of its history. It also operated three stores in metropolitan Detroit under the Crowley's Value City co-brand. The Schottenstein name was dropped from the department-store branding in 2008. Value City expanded into St. Louis in 1995, opening a store in Webster Groves when the chain had 79 locations. Four years later, it acquired Grandpa's, a discount chain with 15 St. Louis-area stores. Value City was connected to a wider group of Schottenstein retail interests. From 1984 through 1995, the family also owned Shifrin-Willens, a jewelry chain. Value City Department Stores was formerly affiliated with Value City Furniture, which was founded in 1948 and developed as a separate furniture business. The furniture company also became the corporate sponsor of Value City Arena at The Ohio State University, the venue used by the university's men's and women's basketball programs. The department-store chain eventually reached 113 locations. During the 2000s, Retail Ventures sought to sell or reduce its exposure to Value City in order to focus on more profitable brands. A proposed 2007 transaction would have transferred as many as 24 stores to Burlington. On January 23, 2008, Retail Ventures instead announced the sale of an ownership interest to VCHI Acquisition Company. Value City closed selected locations during 2008 and attempted to reorganize the merchandise strategy at stores that remained open. The restructuring did not restore the chain's viability. Value City announced on October 27, 2008, that it was filing for bankruptcy and that every remaining department store would close. The closing sales were completed on December 23, 2008. The department-store business therefore became defunct, while the similarly named Value City Furniture business remained a separate retail enterprise.
- 2008
Ownership interest transferred to VCHI Acquisition Company
[1]Retail Ventures announced the sale of an ownership interest in Value City to newly formed VCHI Acquisition Company.
- 2008
Bankruptcy and final liquidation
[1]Value City announced bankruptcy and the closure of all remaining stores; liquidation sales ended on December 23.
- 2007
Proposed store sale to Burlington
[1]Value City announced an intended sale of up to 24 stores to Burlington as Retail Ventures considered strategic alternatives.
- 1999
Acquired Grandpa's discount stores
[1]The chain acquired Grandpa's, adding 15 discount stores in the St. Louis area.
- 1995
Entered the St. Louis market
[1]Value City opened its first St. Louis-area store in Webster Groves when the chain had 79 locations.
- 1984
Schottenstein interests acquired Shifrin-Willens
[1]The Schottenstein family owned the Shifrin-Willens jewelry business from 1984 to 1995, alongside its other retail interests.
- 1917
First Value City store established in Columbus
[1]Ephraim Schottenstein founded the business in Columbus, Ohio, with the first store located on Parsons Avenue.
Products and positioning
Off-price department-store retailer focused on below-list-price merchandise, closeouts, buyouts, irregular apparel, and factory seconds.
Clothing
Apparel
Value City's apparel assortment was built around discounted clothing, including closeout merchandise, buyout goods, irregular garments, and factory seconds. Because the chain relied heavily on opportunistic purchasing, styles, brands, sizes, and quantities could vary by store and over time rather than following a uniform department-store assortment.
Jewelry
Jewelry
Jewelry was one of the chain's principal merchandise categories. It was sold through the same off-price framework as the broader store, with products sourced for discount presentation rather than positioned as a dedicated luxury or specialty-jewelry offering.
Home merchandise
Home goods
The stores carried home goods as part of their general department-store assortment. These products complemented apparel and jewelry and were typically presented through Value City's value-oriented, closeout-heavy merchandising model.
Brand decisions
2008
Sale of ownership interest to VCHI Acquisition CompanyM&ABackground
Retail Ventures continued to reassess Value City's role within its portfolio while the department-store chain faced operating and merchandising difficulties.
Action taken
Retail Ventures announced the sale of an ownership stake in Value City to newly formed VCHI Acquisition Company.
Aftermath
Value City continued closing selected stores and attempted to revise its merchandise strategy, but ultimately filed for bankruptcy later in 2008.
2008
Bankruptcy and liquidationOtherBackground
Store closures and a merchandise reorganization did not restore the chain's viability.
Action taken
Value City announced a bankruptcy filing on October 27 and stated that all remaining department stores would close.
Aftermath
Liquidation sales concluded on December 23, 2008, ending the department-store chain's operations.
2007
Proposed sale of stores to BurlingtonM&ABackground
Retail Ventures was seeking to reduce its involvement in Value City and focus on more profitable brands.
Action taken
The chain announced a plan to sell up to 24 stores to Burlington.
Aftermath
The proposed store sale was followed by further restructuring, store closures, and a later ownership transaction involving VCHI Acquisition Company.
Recent events
- 2008
Retail Ventures sold an ownership interest in Value City to VCHI Acquisition Company[1]
M&A
Retail Ventures announced on January 23, 2008, that it was selling an ownership stake in Value City to the newly formed VCHI Acquisition Company while the chain continued store closures and restructuring.
- 2008
Value City filed for bankruptcy and announced the closure of all remaining stores[1]
Bankruptcy
On October 27, 2008, Value City announced a bankruptcy filing and plans to close all remaining department stores. Liquidation sales concluded on December 23, 2008.
- 2007
Value City planned to sell as many as 24 stores to Burlington[1]
M&A
Retail Ventures announced plans to sell up to 24 Value City stores to Burlington as it evaluated options for the department-store operation.
Sources2 sources
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