‘Unable to find a buyer,’ Shopko to ‘wind down retail operations’
ASHWAUBENON — Shopko officials on Monday, March 18 announced despite the company’s best efforts, a buyer was not found for the company’s “go-forward business.”
As a result, Shopko officials will commence an orderly wind-down of its retail operations beginning this week.
CLICK HERE for a list of closures.
Further, the company is evaluating strategic options for its optical business.
The company will not move forward with the auction that it previously contemplated, and Gordon Brothers will oversee a liquidation process that is expected to conclude 10-12 weeks from now.
According to WLUK, the closures will affect an additional 5,000 employees.
As of now, four Shopko optical locations will remain open until further evaluation: Mequon, Oshkosh, Waukesha and Omaha, Nebraska.
The Ashwaubenon-based retailer filed for bankruptcy Jan. 16, 2019. It started closing stores in December 2018.
Shopko officials said the company is committed to ensuring the orderly wind-down of operations that minimizes the impact of this development on its teammates, customers, vendors and the communities it serves.
“This is not the outcome that we had hoped for when we started our restructuring efforts,” said Russ Steinhorst, Chief Executive Officer. “We want to thank all of our teammates for their hard work and dedication during their time at Shopko.”