Don't use " " as the delimiter for saving, what happens if an item has a space in it's text ? then your whole file will be useless.
Use a random symbol like "Æ" or something like that. To retrieve:
[highlight=vb.net]
Private Sub Retrieve(ByVal lv As ListView, ByVal file As String)
Dim lines As String() = IO.File.ReadAllLines(file).Where(Function(l As String) l.Length > 0).ToArray()
For Each line As String In lines
Dim sections As String() = line.Split("Æ")
Dim lvItem As New ListViewItem(sections(0))
If (sections.Length > 1) Then lvItem.SubItems.AddRange((From s As String In sections.Skip(1) Select New ListViewItem.ListViewSubItem(lvItem, s)).ToArray())
lv.Items.Add(lvItem)
Next
End Sub
[/highlight]
Untested though, just made it up :/