Shopko Hometown, Wautoma, to close its doors June 16
Shopko has announced plans to close its remaining stores by June.
Shopko had originally planned to find a buyer for its “go-forward business,” but they were unable to do so. “As a result, Shopko will commence an orderly wind-down of its retail operations beginning this week. Further, the company is evaluating strategic options for its optical business,” reads a statement from Shopko.
The Ashwaubenon-based retailer announced in February that it would close 70 percent of its stores after filing for Chapter 11 bankruptcy protection. The stores were expected to close by May. Nearly 800 employees will lose their jobs. It’s unclear how many jobs will be lost when the remaining stores close.
Shopko is moving forward with an auction, Gordon Brothers will oversee the liquidation process. This will be finished in 10-12 weeks.
“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,” he added.
Shopko Hometown, Waut-oma, is projected to close June 16, 2019.