Retailer Shopko has just made a major announcement. They are closing all of their stores across the nation.
This will be the final step in liquidating all assets for the failing retail company. They have been systematically shutting down specific locations for months. Now, they have announced they are closing all remaining stores and are going to be gone for good.
"This is not the outcome that we had hoped for when we started our restructuring efforts," Shopko CEO Russ Steinhorst said in the statement. "We want to thank all of our teammates for their hard work and dedication during their time at Shopko."
The move comes after the company was unsuccessful in finding a buyer. The company has been around since 1962 and was started in Green Bay, Wisconsin.
"Shopko in February announced plans to close 250 stores, or about 70 percent of its locations as it attempted to scale back the business and work through bankruptcy to restore profitability and attract a buyer or investor," according to reports.
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