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Shopko to close all remaining stores in June

Shopko to close all remaining stores in June
(Murphy/KNEB/RRN)

Wisconsin-based retail chain Shopko Stores plans to close its remaining 120 department stores by mid-June.

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.

The retailer, headquartered near Green Bay, filed for bankruptcy protection in January, citing excessive debt and ongoing competitive pressure, and began announcing store closings.

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.

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