Shopko and it’s subsidiaries announced plans on January 16, to enter into a voluntary, court-supervised financial restructuring under Chapter 11. The retailer operates 360 stores in 26 states.
Before the announcement this week, the Wisconsin-based company had attempted to alleviate its financial issues by closing stores and selling some of its pharmacies – most notably to CVS and Walgreens. Following the announcement, the company is expected to auction off its remaining 146 pharmacies.
Several stores will be shuttered in South Dakota, but according to Milbank’s Shopko manager, Tim Brown, “It’s business as usual at the Milbank Shopko, and it will not be affected by the closures.” Those slated to close by mid-April include two stores in Sioux Falls, and those in Webster, Redfield, Wagner, Dell Rapids, and Custer.