Shopko's Largest Landlord Calls for Liquidation
Tuesday, January 29th, 2019 -- 8:01 AM
(WRN) -The largest landlord for bankrupt Shopko Stores wants a judge to begin liquidation for the Wisconsin-based retail chain.Shopko Note Holding says sale of Shopko’s pharmacy assets did not meet expectations, and serve as indication that Shopko will not reorganize. Shopko filed for Chapter 11 bankruptcy protection this month, citing adverse effects of a changing retail environment. Court records show post-bankruptcy sales of the remaining pharmacy assets netted purchase agreements totaling about 52 million dollars in proceeds.
SNH said Shopko needed to achieve some 84 million in the pharmacy sell off in order to remain viable.
Feel free to contact us with questions and/or comments.