GREEN BAY, Wis. — A federal
judge has rejected Shopko's bankruptcy plan.
U.S. Bankruptcy Court Judge Thomas Saladino applauded the efforts of
Shopko officials, creditors, attorneys and consultants to bring the
matter to a close. But, Saladino refused to approve the plan this
week because it would have barred creditors from pursuing legal
claims against Shopko.
Press-Gazette Media reports one major creditor, McKesson Corp., told
the judge that it has a civil claim of fraud against at least four
Shopko executives. McKesson was the primary supplier of prescription
medications to Shopko and was owed almost $70 million when Shopko
filed for bankruptcy in January. McKesson claims Shopko executives
made false promises in order to keep Shopko pharmacies supplied with
medications for as long as possible, even though it wasn't paying