Value City Creditors Want Look At Ex-Owner's Books

By Pete Brush

Law360, New York (June 08, 2009, 12:00 AM ET) -- Creditors of bankrupt Value City Holdings Inc., the bargain retailer that went belly-up and won permission to liquidate, are seeking an examination of prepetition owner Retail Ventures Inc. to identify potential assets.

The bid for a Rule 2004 examination, filed Friday in the U.S. Bankruptcy Court for the Southern District of New York, says Retail Ventures received more than $2 million in transfers from the debtors April 8 to July 11 of last year.

And, during the year before the petition date, Retail Ventures received from...
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