Shopko is announcing the closure of all stores after it was unable to find a buyer for its remaining stores.
The company says it will not move forward with an auction that it previously contemplated, and Gordon Brothers will oversee a liquidation process that is expected to conclude in 10-12 weeks.
Shopko says it 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. The company is also evaluating options for its optical business.
“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.”
The company began announcing restructuring in late 2018, with the closure of some pharmacy locations as well as stores. The Mankato and Fairmont locations had been left off the closure list until Monday’s announcement.
Shopko says it will begin a wind-down of its retail operations this week.