Shopko announces 70 percent of stores will close, including one in east Idaho
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IDAHO FALLS — One Shopko store in eastern Idaho will remain open, but another is shutting its doors in three months.
The Wisconsin-based retailer announced this week that the Chubbuck location will close on May 5. The Idaho Falls store is remaining open.
Shopko indicated it will close 251 stores nationwide this year – more than twice the number the company identified as closing last month.
Other stores in Idaho will close on the following dates:
- Boise – March 17
- Nampa – Apr. 14
- Orofino – May 5
- Twin Falls – May 12
Shopko is reporting assets of less than $1 billion and liabilities of between $1 billion and $10 billion. The company says it plans to continue operating through chapter 11 reorganization after securing financing from a group of lenders led by Wells Fargo Bank.
“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,” Shopko spokeswoman Michelle Hansen said. “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.”
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.