BREAKING – All Shopko Stores to Close
Shopko has been trying to find a buyer since they announced bankruptcy in January, but no luck, so now, all Shopko stores are closing, including in Rochester.
When will the stores start closing? The Shopko press release says the "orderly wind-down" will start this week, and liquidation should be completed in 10-12 weeks.
I'm sorry to hear this news, and I was wondering if Shopko was failing, or if the investment firm that owned them had taken all the money out they could, leaving Shopko with nothing but debt. A few different business websites say yeah, that's it exactly.
Wolfe Street's headline makes its position pretty clear. Shopko wasn't meant to succeed.
HOW SHOPKO BEGAN
According to Wikipedia, the idea probably started growing in Chicago in the late 50's, but it wasn't until 1962 that the first store opened...
Chicago pharmacist James Ruben moved to Green Bay and he opened the first Shopco store...in 1962. He envisioned a larger retail store with health care services combined with the retail operations. As a result, Shopco became one of the first chains to offer such services as a pharmacy and eye care center within the store.