The Columbus-based company says declining sales, tight credit and the sour economy have crippled its business. Kristen Mack is a spokesperson for Value City.
Mack: "With difficult economic times facing almost every retailer across the country they had to file Chapter 11, as well as some conditions in the credit market also warranted this action."
Value City had already closed more than 75 stores since last December, and had a net loss of $70 million this year.