Retail Ventures, Inc. is exploring strategic alternatives for its Value City Department Stores operations, including a possible sale of the division. RVI has retained Financo, Inc. and CIBC World Markets Corp. as its financial advisors to assist in this effort. RVI stated that there can be no assurance that this process will result in any specific transaction.
RVI's CEO Heywood Wilansky stated, “The 'strategic alternatives' do not include RVI's other retail divisions DSW Inc. or Filene's Basement. Those two divisions are managed separately from Value City Department Stores.”
RVI also stated that it does not expect to disclose further developments relating to its exploration of strategic alternatives unless and until the Board of Directors has approved a definitive transaction.
