Shopko announces more store closings, including Watertown and Racine

Freeman Staff

Feb. 8, 2019

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 pharmacies.

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 process.