Shopko files for bankruptcy, will close 105 stores, including 16 in Wisconsin

[riversedge]

Shopko files for bankruptcy, will close 105 stores, including 16 in Wisconsin



https://www.greenbaypressgazette.com/story/money/2019/01/16/shopko-files-bankruptcy-close-38-more-stores/2551819002/


Jeff Bollier, Green Bay Press-Gazette Published 8:37 a.m. CT Jan. 16, 2019 | Updated 5:23 p.m. CT Jan. 16, 2019


ASHWAUBENON - Shopko has until March 14 to find a way through reorganization or it will have to liquidate its assets, according to bankruptcy court documents filed Wednesday.

Shopko's parent company, Specialty Retail Shops Holding Corp., and 12 of its subsidiaries filed for Chapter 11 bankruptcy protection from creditors, citing excessive debt and a decline in brick-and-mortar retail store sales as customers' shopping patterns changed.

With an eye toward shutting down under-performing stores, the company announced that it will close 105 stores, including the company's original store at 216 S. Military Ave. in Green Bay, according to a website set up to provide information on the reorganization.

"I started crying and said, 'Not my store,'" Green Bay resident Vicki Villers said as she shopped for greeting cards in the Military Avenue store. "My husband (Harvey Villers Jr.) and I depend on this store. We love this store. I hate to see it close."

[madaboutharry]

1. I always found Shopko very depressing.

It had the Toys R Us syndrome. It just seemed to always be messy and sad.

I don't understand why companies don't get that shoppers, even those looking to save money, deserve to shop in a nice atmosphere.

[Archae]

2. Here in Sheboygan it's staying open, at least for now.

I like going there sometimes, in fact at my YouTube (Ross Sauer) is a bike ride I took to Taylor Heights and then Shopko.

[riversedge]

4. I like Shopko when I have to shop (avoid any shopping) but generally find what I need.

[Itchinjim]

3. Walmart and Target will be our only choices. It's just a matter of time.

[customerserviceguy]

5. And Amazon

We're coming down to a few semi-monopolistic companies, that will be de facto monopolies in the places where only one of them exists.