Ashwaubenon, Wis. • Wisconsin-based retail chain Shopko Stores plans to close its remaining 120 department stores by mid-June.
The company filed for bankruptcy in January, citing excessive debt and ongoing competitive pressure. It announced it would close more than 100 stores, including 13 of its 20 outlets in Utah. Monday’s announcement will affect the seven that were spared at that time — in Ballard, Layton, Logan, Moab, Riverdale, Salt Lake City and Tremonton.
Shopko said Monday the company was unable to find a buyer for its business. The company plans to begin winding down its retail operations this week.
WLUK-TV reports those closings will affect an additional 5,000 employees.
Shopko says it will not move forward with an auction that was scheduled Tuesday. The liquidation is expected to take 10-12 weeks.
CEO Russ Steinhorst says in a statement “this is not the outcome that we had hoped for when we started our restructuring efforts.”
Shopko began with a store in Green Bay in 1962.
