WAUKESHA — Green Bay-based
Shopko announced the additional planned closures of stores around
the country, including in Watertown and Racine.
Shopko said on Jan. 16 that it and its subsidiaries had filed for
court-supervised financial restructuring under Chapter 11 of the
U.S. Bankruptcy Code.
Locations previously announced for closure in southeastern Wisconsin
included West Bend, Sussex and Grafton.
Other Wisconsin locations that have been added to the list are
Watertown, 701 S. Church St., with an estimated closing date of May
12; Racine, 4801 Washington Ave., estimated closing date of May 12;
and Kenosha, 5300 52nd St., estimated closing date of May 12.
The closures affect the Shopko stores and its Hometown and
A statement from the company said it is confident this step will
allow for a stronger Shopko.
“This decision is a difficult, but necessary one,” said Russ
Steinhorst, chief executive officer, in a statement. “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 has obtained approximately $480 million in
debtor-in-possession financing from some lenders, led by Wells
Fargo, N.A. as administrative agent during the Chapter 11 process.
This is to make sure certain suppliers and vendors will get paid.
The company will continue to update customers throughout this