Company Overview of Savers, Inc.
Savers, Inc. owns and operates a chain of retail thrift stores in the United States, Canada, and Australia. Its stores offer clothing and accessories for men, women, and children; and household goods, vintage finds, house wares, collectibles, furniture, and home decor products. The company was founded in 1954 and is headquartered in Bellevue, Washington. Savers, Inc. operates as a subsidiary of Evergreen AcqCo 1 LP.
11400 S.E. 6th Street
Bellevue, WA 98004
Founded in 1954
Key Executives for Savers, Inc.
Chief Executive Officer and President
Compensation as of Fiscal Year 2015.
Savers, Inc. Key Developments
Savers Inc. Settles Donation Lawsuit with Attorney General Lori Swanson
Jun 26 15
Savers Inc. announced that Minnesota Attorney General Lori Swanson had accused of misleading the public over charitable giving, says it has settled a lawsuit from Swason's office. The Star Tribune reports on the settlement, Savers to change how it handles donated used goods. Savers also will pay $1.8 million to local charities. Savers said it disagreed with Swanson's complaint that it misled donors about how much of their contributions go to charity. The lawsuit, filed in May, claimed that donations at some locations don't benefit named charities, and that Savers' policies gave charities 40 cents per pound of clothing - whether the donated clothing were sweatshirts or expensive suits. Savers agreed to post signs explaining its status as a for-profit fundraiser and to stop soliciting for donations of items like jewelry, which don't benefit charities.
Minnesota AG Sues Savers Behind Value Village Stores
May 22 15
Minnesota's attorney general has filed a lawsuit against the owner of Value Village thrift stores, accusing the company of violations of the state's charities law that include misleading people about how much of their donations actually go to charities and concealing its role as a for-profit company. The lawsuit, announced comes six months after the attorney general unveiled a report highly critical of Savers, as the privately held company is called. Savers contracts with charities to use their names, handling solicitations and collection of clothing donations and other items. It often pays the charities by weight, and sells the goods in its 330 stores. The arrangement is convenient for donors, who get a tax deduction, as well as for the charities, which get a source of revenue without having to run costly fundraising operations themselves. But Minnesota has raised questions about the way Savers operates. In the lawsuit, filed in Hennepin County District Court, the attorney general alleges Savers tells the public it pays charities for each donation, and it gives donors receipts encouraging them to take a tax deduction. But actually Savers doesn't pay the charities for household goods and other non-clothing items collected in their name, which is misleading. Moreover, the attorney general says Savers solicits donations to benefit a specific charity, but then may steer those proceeds to other charities. The AG says that violates donor intent, a core principle of charitable-solicitation law. The AG also alleges Savers did not comply with state registration and financial-reporting requirements, thereby concealing from the public both its role a s a for-profit company and how little of the value of the donors' items ends up helping charities.
Savers to Open Second Store in Western New York
Jun 16 14
Savers is preparing to open its second Western New York location in the Town of Tonawanda at Sheridan Plaza. Set to open in August, the store will serve as an anchor for an influx of tenants at Sheridan Plaza since January, when Rochester-based commercial real estate developer LLD Enterprises purchased the property at 2309 Eggert Road for $5 million.
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