In December, Shopko announced it was selling off over 40 pharmacies to Kroger. This week Shopko announced it plans to close 38 stores, relocate 20 Optical centers and conduct an auction process for its pharmacy business. The general merchandise retailer announced on Wednesday, January 16 that it is filing Chapter 11 bankruptcy protection to restructure its finances.
Thirteen Utah stores will be closed in the planned restructuring, including the store in Brigham City. It is scheduled to be closed by April 15, 2019. The store closings in Utah (with their expected close date) include:
- Shopko 5959 SOUTH STATE STREET MURRAY 4/8/2019
- Shopko 2165 EAST 9400 SOUTH SANDY CITY 3/17/2019
- Shopko 1553 WEST 9000 S WEST JORDAN 4/15/2019
- Shopko 5800 SOUTH REDWOOD ROAD TAYLORSVILLE 3/17/2019
- Shopko 1018 WASHINGTON BOULEVARD OGDEN 4/15/2019
- Shopko 4850 WEST 3500 SOUTH WEST VALLEY 4/15/2019
- Shopko 747 SOUTH MAIN BRIGHAM CITY 4/15/2019
- Shopko 125 S STATE STREET OREM 3/17/2019
- Shopko 955 NORTH MAIN STREET SPANISH FORK 4/15/2019
- Hometown 94 NORTH 400 EAST DELTA 3/3/2019
- Hometown 1174 N. MAIN STREET NEPHI 3/3/2019
- Hometown 860 S MAIN STREET BLANDING 3/3/2019
- Hometown 660 N MAIN ST BEAVER 3/3/2019
“This decision is a difficult, but necessary one,” said Russ Steinhorst, Chief Executive Officer of Shopko in a press release. “In a challenging retail environment, we have had to make some very tough choices, but we are confident that by operating a smaller and more focused store footprint, we will be able to build a stronger Shopko that will better serve our customers, vendors, employees and other stakeholders through this process.”
Shopko, headquartered in Green Bay, Wisconsin, has obtained up to $480 million in financing from secured lenders, led by Wells Fargo, to help fund and protect its operations during the Chapter 11 process.
Two Shopkos in Boise and one in Nampa are the only stores in Idaho that will be closing. Two stores in Wyoming will also be closing, one in Thermopolis and the other in Greybull. All 38 planned closures are expected to happen before the end of April.