GREEN BAY, WI-- Shopko is closing the rest of its stores.
In a press release Monday the Green Bay-based retailer said it will liquidate its assets and shut down all remaining stores by mid-June. The company could not find a buyer for the business and will begin winding down operations this week. Officials say Shopko is also considering options for its optical business.
"This is not the outcome that we had hoped for when we started our restructuring efforts," Shopko CEO Russ Steinhorst said in the release. "We want to thank all of our teammates for their hard work and dedication during their time at Shopko."
An auction was scheduled for Tuesday morning in hopes it would drive up the price of bids for the business. The auction has been canceled and a bankruptcy consultant will oversee liquidation over the next several weeks.
