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                           May 24, 2023

       Mark Walsh
       Chief Executive Officer
       Savers Value Village, Inc.
       11400 S.E. 6th Street, Suite 125
       Bellevue, WA 98004

                                                        Re: Savers Value
Village, Inc.
                                                            Amendment No. 8 to
Registration Statement on Form S-1
                                                            Filed May 11, 2023
                                                            File No. 333-261850

       Dear Mark Walsh:

             We have reviewed your amended registration statement and have the
following
       comments. In some of our comments, we may ask you to provide us with
information so we
       may better understand your disclosure.

              Please respond to this letter by amending your registration
statement and providing the
       requested information. If you do not believe our comments apply to your
facts and
       circumstances or do not believe an amendment is appropriate, please tell
us why in your
       response.

              After reviewing any amendment to your registration statement and
the information you
       provide in response to these comments, we may have additional comments.
Unless we note
       otherwise, our references to prior comments are to comments in our April
20, 2023 letter.

       Amendment No. 8 to Registration Statement on Form S-1

       Summary Financial and Other Data
       Adjusted Operating Cash Flow, page 30

   1.                                                   You add back interest
paid on debt and dividend-related bonuses in arriving at the non-
                                                        GAAP financial measure
"adjusted operating cash flow." It appears these adjustments are
                                                        prohibited by Item
10(e)(1)(ii)(A) of Regulation S-K. Please revise to remove these
                                                        adjustments or advise.
 Mark Walsh
FirstName  LastNameMark
Savers Value Village, Inc. Walsh
Comapany
May        NameSavers Value Village, Inc.
     24, 2023
May 24,
Page 2 2023 Page 2
FirstName LastName
Management's Discussion and Analysis of Financial Condition and Results of
Operations
Cash Flows
Comparison of three months ended April 1, 2023 ...
Cash (used in) provided by operating activities, page 112

2.       You state the change resulted primarily from a $24.1 million special
one time bonus and
         related taxes paid in fiscal 2023. After considering this, it appears
operating cash flows
         for fiscal 2023 were $9.3 million compared to $1.6 million in the
comparable prior year
         period. It is not clear from your disclosure the reason for this
increase. Please revise your
         disclosure as appropriate. Refer to Item 303(b) of Regulation S-K
wherein it states
         "Where the financial statements reflect material changes from
period-to-period in one or
         more line items, including where material changes within a line item
offset one another,
         describe the underlying reasons for these material changes in
quantitative and qualitative
         terms."
General

3.       To the extent your business operations are materially dependent on
your agreement with
         Valvan Bailing Systems NV, please disclose the material terms of such
agreement. Also,
         please file such agreement as an exhibit to the registration
statement, or tell us why you
         believe you are not required to do so. See Item 601(b)(10)(ii)(B) of
Regulation S-K.
       You may contact Tatanisha Meadows at 202-551-3322 or Doug Jones at
202-551-3309 if
you have questions regarding comments on the financial statements and related
matters. Please
contact Jennie Beysolow at 202-551-8108 or Jennifer L  pez Molina at
202-551-3792 with any
other questions.



                                                               Sincerely,

                                                               Division of
Corporation Finance
                                                               Office of Trade
& Services
cc:      Christodoulos Kaoutzanis