Shopko to Close 38 More Stores, Files for Bankruptcy

The Announcement was Made Monday Morning

GREEN BAY, Wis. – Shopko has filed for Chapter 11 bankruptcy according to a Wednesday morning press release.

According to the release, “The Company is seeking to facilitate the restructuring as a result of excess debt and ongoing competitive pressures.”

In addition to the filing Shopko also announced it will be closing an additional 38 stores and is relocating over 20 optical centers to freestanding locations.

Shopko says it will also start conducting an auction process for its pharmacy business.

Earlier this month Shopko announced the closure of six more stores in Wisconsin which include stores in Appleton, Grafton, La Crosse, Menasha, Seymour and Sussex.

The Wisconsin-based retailer announced late last year that it was closing 39 stores in 19 states by the end of February.

CLICK HERE for a list of closing locations.