Retail Ventures enters NBLI for Value City Dept stores
18 Dec '07
1 min read
Retail Ventures Inc announced that it has entered into a non-binding indication (NBLI) of interest with a third party for the possible acquisition of all or a majority of the outstanding units of the membership interest in Value City Department Stores LLC.
The indication of interest is subject to certain conditions including due diligence and provides for a 25 day exclusivity period.
There is no assurance that the indication of interest will ultimately lead to a transaction or, if there is a transaction, what the ultimate terms would be.
On October 3, 2007, Value City Department Stores entered into an agreement with Burlington Coat Factory Warehouse Corporation to assign or sublease up to 24 locations such that the affected stores will close their operations on or before the end of March, 2008.
This transaction between Burlington Coat Factory Warehouse Corporation and Value City Department Stores will not be affected by the proposed acquisition.
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