Shopko has announced they will close all remaining stores.
Shopko says despite its best efforts, it was unable to find a buyer.
As a result, Shopko will commence a wind-down of its retail operations beginning this week.
Furthermore, the company is evaluating strategic options for its optical business.
The company will not move forward with the auction that it previously contemplated, and Gordon Brothers will oversee a liquidation process that is expected to conclude 10-12 weeks from now.
Shopko said it is committing to ensure an orderly wind-down of operations that minimizes the impact of this news on its teammates, customers, vendors and the communities it serves.
“This is not the outcome that we had hoped for when we started our restructuring efforts,” said Russ Steinhorst, Chief Executive Officer. “We want to thank all of our teammates for their hard work and dedication during their time at Shopko.”