Shopko Announces Store Closings, What Does This Mean For S. Minn
Wisconsin based retailer Shopko announced this morning that it would be closing 39 stores in 19 states, including two here in Minnesota.
The two stores in that will be closing here in Minnesota, are located in Mahnomen and Paynesville.
38 of the 39 stores that will be closing are operated under the Shopko Hometown banner. Liquidation sales are scheduled to start on Dec. 7, and the stores expected to close at the end of February.
There will be 4 stores closing in North Dakota and 2 stores closing in Iowa. According to DebtWire.com, Shopko earlier this year sold some pharmacy customer lists for almost $6 million, as part of an effort to mitigate costs.
Shopko officials in a comment to the Star Tribune say the closures were dictated by the long-term outlook on profitability, sales trends, and growth potential.