Store Closure List
Shopko has released the full list of all stores planned for closure, including the dates stores are expected to shut their doors.
The following Wisconsin stores will be ending operations in April, with two closing in February and one in March:
Click the link here for the full list: SHOPKO STORE CLOSURE LIST
Shopko Files for Chapter 11 Bankruptcy
Shopko has announced it has filed for Chapter 11 bankruptcy. The announcement comes after days of speculation the company would do so.
The company states they will be closing a further 38 stores, relocating more than 20 optical centers to freestanding locations, and hold an auctioning process for their pharmacy business. Shopko says throughout the process, all Shopko Optical centers and pharmacies will remain open.
The company adds they will be growing their Optical centers by opening additional freestanding Optical locations during 2019.
“This decision is a difficult, but necessary one,” said Russ Steinhorst, Chief Executive Officer. “In a challenging retail environment, we have had to make some very tough choices, but we are confident that by operating a smaller and more focused store footprint, we will be able to build a stronger Shopko that will better serve our customers, vendors, employees and other stakeholders through this process.”
In a press release, the company says it has secured $480 million from secured lendors, led by Wells Fargo, to fund operations during the bankruptcy process. They say the funding ensures suppliers and other business partners and vendors will be paid for goods and services.