Shopko Files for Bankruptcy Protect, Closing 38 More Stores
GREEN BAY, WISCONSIN -- As expected, Shopko has announced a plan for financial restructuring, which includes filing for Chapter 11 Bankruptcy and closing 38 more stores.
The list of store closings in Minnesota includes Rochester, Fairmont, and Warroad - closing on April 15th. They join the Paynesville and Mahnomen stores, which were announced earlier - and will close on March 3rd. Neither St. Cloud store is on this latest list of store closings.
Shopko says, during the restructuring process, the store will continue to operate.
They also plan to relocate over 20 Optical centers to freestanding locations and conduct an auction for its pharmacy business.
Shopko says they were encouraged by the performance of the four freestanding Optical centers that were opened last year, and plan to continue to grow its optical business by opening more freestanding Optical locations this year.
According to their website, Shopko currently operates 134 Shopko stores, 176 Shopko Hometown locations, 18 Shopko Pharmacy locations and 5 Shopko Express stores.