Green Bay-based Shopko announced Monday that its remaining stores would close amid bankruptcy , despite efforts to restructure itself.
All remaining Shopko stores - including several throughout the Northland - are expected to close by June 16, according to an “additional store closing list” document filed in the U.S. Bankruptcy Court for the District of Nebraska on Monday.
"This is not the outcome that we had hoped for when we started our restructuring efforts," CEO Russ Steinhorst said in a news release Monday. "We want to thank all of our teammates for their hard work and dedication during their time at Shopko."
The retailer runs stores throughout the Northland, including Duluth, Two Harbors, Moose Lake, Ely, Aitkin and Spooner. Those locations were spared in January when the company announced it had filed for Chapter 11 Bankruptcy and would be closing 105 of its stores - about one third of the company's 360 stores at the time.
In January, the company said it needed to restructure "as a result of excess debt and ongoing competitive pressures."
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On Monday, the company said it could not find a buyer and will instead begin closing its remaining stores. Liquidation is expected to take about 10 to 12 weeks to complete, the company said.
