Tip Line: 414-777-5808 | newsdesk@cbs58.com

Wisconsin-based Shopko to close remaining stores in June

ASHWAUBENON, Wis. (AP) — Wisconsin-based retail chain Shopko Stores plans to close its remaining 120 department stores by mid-June.

Shopko said Monday the company was unable to find a buyer for its business. The company plans to begin winding down its retail operations this week.

WLUK-TV reports those closings will affect an additional 5,000 employees.

Shopko says it will not move forward with an auction that was scheduled Tuesday. The liquidation is expected to take 10-12 weeks.

The retailer, headquartered near Green Bay, filed for bankruptcy protection in January, citing excessive debt and ongoing competitive pressure, and began announcing store closings.

CEO Russ Steinhorst says in a statement "this is not the outcome that we had hoped for when we started our restructuring efforts."

Shopko began with a store in Green Bay in 1962.


Share this article:
Save with
Are you sure you want to delete this comment?
Close

0 Comments

Post a comment
Be the first to leave a comment!
Are you sure you want to delete this comment?