Shopko Files for Bankruptcy
Thursday, January 17th, 2019 -- 12:06 PM
-After weeks of rumors, Shopko confirmed that they have filed for bankruptcy.The company filed for bankruptcy protections on Wednesday, and announced the closure of 38 stores. The Neillsville Shopko was not on that list nor were the Shopko’s in some of Clark County’s other small communities including Abbotsford and Stanley. The Marshfield Shopko will remain open as well, but its pharmacy is closing and moving to Pick ‘n Save. Parent company Kroger plans on taking over the pharmacies at 42 Shopko locations and moving them into grocery stores. Most Wisconsin stores will close in April and they include Green Bay, on Military Ave., Manitowoc, West Bend, La Crosse, on N. Madison, Menasha, Stevens Point, Madison, Grafton, Neenah, Plover, and Sussex. Express locations in Buchanan and Appleton will close in February.
Hometown locations in Mauston and Seymour will close in March and April. In a statement, CEO Russ Steinhorst said the increased pressure from competitors and excess debt have forced this step. The company will also be auctioning off its remaining pharmacy business, and converting a number of its optical stores into standalone operations.
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