Reedsburg Shopko will close this summer
After filing for bankruptcy earlier this year, Shopko announced it plans to close the remainder of its stores this summer.
According to the Associated Press, the Wisconsin retail chain announced plans to close its remaining 120 department stores by mid-June. Reedsburg Shopko Store Manager Bryan Blackard said the Reedsburg store will close. He said a closing date has not been set for the store but it will be sometime in June.
Shopko said the company was unable to find a buyer for its business. The company plans to begin winding down its retail operations this week. It will not move forward with an auction scheduled for March 19. The liquidation is expected to take 10-12 weeks.
The retailer filed for bankruptcy protection in January, citing excessive debt and ongoing competitive pressure, and began announcing store closings. The Reedsburg store, located on Main Street, initially planned to stay open. Shopko’s location in Mauston closed in March.
CEO Russ Steinhorst says in a statement “this is not the outcome that we had hoped for when we started our restructuring efforts.”
Headquartered in Ashwaubenon, Shopko began with a store in Green Bay in 1962.