Shopko Stores file for bankruptcy, New Prague store to remain open

Shopko has filed for Chapter 11 Bankruptcy, the company announced on Wednesday, Jan. 16.
The company has announced plans to close more than 100 stores as part of its reorganizational plan. The closings affect both Shopko stores and the smaller Shopko Hometown stores, but does not include the Shopko Hometown store in New Prague. Based in Green Bay, WI, the company currently operates 363 stores in 24 states.
Closings affect stores in Colorado, Iowa, Idaho, Illinois, Indiana, Kansas, Michigan, Minnesota, Missouri, Montana, North Dakota, Nebraska, New Mexico, Ohio, Oregon, South Dakota, Texas, Utah, Washington, Wisconsin and Wyoming.
In Minnesota, the company is closing its Fairmont Shopko store and one of two Rochester Shopko stores, and is closing three Shopko Hometown locations, in Mahnomen, Paynesville and Warroad.
In addition to the store closing, the company is relocating 20 optical centers from Shopko stores to freestanding locations and liquidating its pharmacy business.
In a press release, the company stated it is seeking a restructuring as a result of “excess debt and ongoing competitive pressures.” Shopko has obtained up to $480 million in financing to help fund and protect operations during the bankruptcy process.
The Shopko Hometown Store, located at 200 10th Ave. SE, opened in June, 2015. Previously, that location housed an Alco store from 2007 unti closing in early 2015 following a bankruptcy liquidation sale.

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