Shopko to close all stores
March 18, 2019
Shopko plans to close all of its 363 stores after failing to find a buyer for its remaining assets.
The retailer filed for bankruptcy in January and has announced the closing of 250 stores since then, including the two in Sioux Falls and 10 others in the state. Monday’s news also means the loss of Shopko stores in Madison, Mitchell, Watertown, Mobridge, Belle Fourche and Hot Springs.
“This is not the outcome that we had hoped for when we started our restructuring efforts,” CEO Russ Steinhorst said in a statement.
All of the stores are expected to be closed by summer.
According to the company, it’s still looking at what to do with its optical centers, which it had planned to move to new locations in many cities. Shopko recently leased two sites in Sioux Falls for the optical centers in the stores that are closing on Arrowhead Parkway and 41st Street.
The Wisconsin-based retailer was founded in 1962. At the time if filed for bankruptcy, it was operating more than 360 stores in 26 states.
