Shopko Files for Bankruptcy and Closes Over 250 Stores
Heads up, Shopko shoppers!
On January 16th, 2019, Shopko announced they’re filing for Chapter 11 Bankruptcy as a result of excessive debt and ongoing competitive pressures. At the time of this announcement, Shopko plans on closing stores and relocating several Optical centers to freestanding locations.
Moreover, in a recent statement, Shopko announced they’re planning to close over 130 more stores, with most stores closed by May 2019. You can find a complete list of over 250 store closures in this Shopko document, as well as more information about Shopko’s restructuring process.
Here’s what Shopko said in a recent statement:
“Through our conversations with the potential buyers, it has become clear that it is in our best interest to operate with a significantly smaller store footprint. Today we are announcing the closure of an additional 139 Shopko and Shopko Hometown stores. Further, we will relocate approximately 50 optical centers in closing stores to new freestanding locations.
Due to these impacts, we have issued a WARN notice in WI and IL to employees affected by these difficult, but necessary decisions. While we have not made any decisions about what positions will be affected, we do know that it will result in a reduction of staff.
We remain hopeful that we will be able to emerge as a stronger company, and we believe that this is the best course of action to make ourselves more attractive to potential buyers and successfully emerge from Chapter 11.
In addition to store closings, health provider ThedaCare announced that Shopko is closing some of its pharmacies at some ThedaCare locations, including its retail pharmacies in ThedaCare Medical Center-Shawano and ThedaCare Medical Center-Waupaca.”
Never heard of them.
I have one near me in Wisconsin. I’ve never been though… what kinds of sales might they have for liquidation?
I’m in Wisconsin. One near me is closing and the other is staying open. Stuff is 20% off at the one that’s closing, but stuff is still cheaper at the one staying open because they jacked up prices before adding the discount at the one that’s closing. This may be part of the problem? Also, they never took internet coupons, so people stopped shopping there.
Same at the store liquidating here in Spokane
Being from Wisconsin, this is sad to hear. I live in Arizona now and every time I went home I would go to Shopko for Green Bay Packer items. They always had a large selection. Sad to hear this.
Makes me so sad, this is such a great little store, we have one near our cottage in Brooklyn MI.
This is really sad to hear. We have a Shopko Hometown in our small town. I go there often because it’s the closest store around. Including our pharmacy. 🙁
We have two in our city. Only one is closing. It’s kind of like KMart in my opinion. I rarely shop there because I have Walmart and Target.
Years ago when I lived in Illinois we had a Shopko but they closed all stores in our area. Back then we thought they had filled for bankruptcy. We always shopped there. Pretty sad…
There is one closing right near my home and some liquidator group has taken over the closing . The “sale” prices are still very high, because the are taking 20%-40% off the original (ridiculously) high price, not any marked sale price that Shopko had marked the items before the liquidation.
I used to live near a Shopko and I always thought their prices were on the higher side. It’s sad to hear of another store closing especially since stores like Shopko are often one of the only options in smaller areas.
I really saw this coming. There is a Shopko near my family home in Neenah/Menasha, WI that has been there forever, and now I live down the street from the one in Eugene, Oregon. When I moved here six months ago, I went to Shopko numerous times for household supplies, furniture and everything else, and Shopko’s prices were way higher than Macy’s, Office Depot and Target altogether. It’s little wonder they are filing Chapter 11.