KSTP TV reported today that Wisconsin-based retail chain Shopko Stores plans to close its remaining 120 department stores by mid-June, including ALL its remaining Minnesota locations.
Shopko said Monday the company was unable to find a buyer for its business. The company plans to begin winding down its retail operations this week.
The retailer filed for bankruptcy protection in January, citing excessive debt and ongoing competitive pressure. From their headquarters in Green Bay they began announcing store closings. The liquidation is expected to take 10-12 weeks.
The CEO, Russ Steinhorst, says in a statement “this is not the outcome that we had hoped for when we started our restructuring efforts.”
Shopko began in 1962 with it’s first store in Green Bay.