Shopko, the retailer, just made a major announcement. They will close all their stores across the country.
This will be the final step to liquidate all assets of the failing retail business. They have been closing down specific locations for many months. They announced that they would close all remaining stores, and they intend to do so permanently.
“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 all of our Shopko colleagues to be sincerely thanked for their hard work, dedication, and support during their time at Shopko.”
After the company failed in its search for a buyer, the company decided to make the move. The company was founded in Green Bay, Wisconsin in 1962.
“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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