Shopko Fails to Find Buyer, Forced to Liquidate
Shopko announced that it was unable to find a buyer for its business. As a result, Shopko will commence an orderly wind-down of its retail operations beginning this week. Further, the company is evaluating strategic options for its optical business.
The retailer will not move forward with the auction that it previously contemplated, and Gordon Brothers will oversee a liquidation process that is expected to conclude 10-12 weeks from now.
Shopko 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.
"This is not the outcome that we had hoped for when we started our restructuring efforts," said Russ Steinhorst, CEO, Shopko. "We want to thank all of our teammates for their hard work and dedication during their time at Shopko."