Shopko, which filed for bankruptcy last month, said it will close 251 stores, or 70 percent of its overall store base.
The 251 stores set to close is more than twice the number of stores Shopko identified for closing in mid-January.
The company currently operates about 360 stores in more than two dozen states. The list of closures would cut that to fewer than 110 stores. The full list of stores set to close is HERE.
Shopko released a statement Wednesday evening:
“Through our conversations with the potential buyers, it has become clear that it is in our best interest to operate with a significantly smaller store footprint.
“Today we are announcing the closure of an additional 139 Shopko and Shopko Hometown stores. Further, we will relocate approximately 50 optical centers in closing stores to new freestanding locations.
“Due to these impacts, we have issued a WARN notice in WI and IL to employees affected by these difficult, but necessary decisions. While we have not made any decisions about what positions will be affected, we do know that it will result in a reduction of staff.
“We remain hopeful that we will be able to emerge as a stronger company, and we believe that this is the best course of action to make ourselves more attractive to potential buyers and successfully emerge from Chapter 11.”