October 23, 2016 5:22 PM ET

Multiline Retail

Company Overview of Savers, LLC

Company Overview

Savers, LLC engages in the ownership and operation of a chain of retail thrift superstores in the United States, Canada, and Australia. Its stores offer used clothing, accessories, and household products for men, women, and kids. The company was founded in 1954 and is based in Bellevue, Washington. Savers, LLC operates as a subsidiary of Evergreen AcqCo 1 LP.

11400 S.E. 6th Street

Suite 220

Bellevue, WA 98004

United States

Founded in 1954





Key Executives for Savers, LLC

Chief Executive Officer and President
Owner and Chairman
Compensation as of Fiscal Year 2016.

Savers, LLC Key Developments

Savers Inc. Settles Donation Lawsuit with Attorney General Lori Swanson

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

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.

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Recent Private Companies Transactions

No transactions available in the past 12 months.

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