Shopko files for bankruptcy

cathandler
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Shopko files for bankruptcy

Post by cathandler » January 16th, 2019, 10:23 am


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Re: Shopko files for bankruptcy

Post by arizonaguy » January 16th, 2019, 10:45 am

Here is the list of closing locations:

http://info.shopko.com/closing-locations.pdf

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Re: Shopko files for bankruptcy

Post by ckellogg5 » January 16th, 2019, 11:11 am

Shopko is pretty much leaving Utah . They are closing all but 3 regular stores (Logan, Layton and Riverdale) all north of Salt Lake and 2 Hometown stores (Ballard and Moab) .

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Re: Shopko files for bankruptcy

Post by SamSpade » January 16th, 2019, 11:18 am

OK, this is almost as weird as the Sears closure list out west -
Twin Falls,
Chubbuck (Pocatello),
Idaho Falls,
Lewiston,
Coeur d'Alene

& a few of the hometown stores - Bonners Ferry, Oldtown, Orofino, Salmon.

all remain open in Idaho yet most locations in Utah to close (whether hometown or traditional) and the locations in western Idaho near the distribution center?

They're also retaining Eugene (one of the 2 locations there closed a while back), Salem, Redding...

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Re: Shopko files for bankruptcy

Post by Super S » January 16th, 2019, 11:31 am

I see that Nampa has made the list. I already mentioned Lacey, WA in another thread. But with the store in Bend closing, this leaves really far flung locations in Eugene and Salem, OR as well as Redding, CA.

I would be worried right now if I worked in the Boise distribution center, which has not yet been mentioned as closing.

Also worth noting is that the original location in Green Bay has made this list.

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Re: Shopko files for bankruptcy

Post by Andrew T. » January 16th, 2019, 11:59 am

Shopko's Wisconsin home turf isn't being spared in this round of closures, that's for sure. In fact, all of the Shopko locations I used to frequent in Madison and Manitowoc are on the list.

Since the company had my e-mail address on file for their loyalty program (grumble grumble), I received this hilarously-worded message today that goes out of its way not to mention the B-word, or be forthright about anything:
January 16, 2019

To: Shopko Customers
Re: Important Information Regarding Shopko’s Restructuring

Since 1962, Shopko has provided quality name-brand merchandise, great values and services to small and mid-size cities and have consistently met the needs of smaller communities across the Central, Western and Pacific Northwest regions of the U.S.

Over the past several months, we have been taking action to drive improved performance and strengthen Shopko’s financial position. Today, Shopko took an important step towards protecting our future and ensuring our ability to continue delivering the high-quality products and services that our customers are accustomed to receiving.

WHAT THIS MEANS FOR YOU: WE ARE OPEN FOR BUSINESS

* Our continuing stores are open. We continue to offer the high-quality products that you are accustomed to.
* Our customer programs will be offered as normal at our continuing stores. Except for those stores that we are closing, we are continuing to honor return policies, warranties, gift cards and merchandise credits, as well as our loyalty programs.
* You can continue to count on our high-quality products and services.

Today's announcement provides clarity about the path forward for us, and we are confident the outcome will be a stronger Shopko for you, our valued customers, through the process.

If you have questions about this process, you can find FAQ’s and additional information on a special page on our website at http://info.shopko.com.

We will be sure to communicate with you throughout our reorganization and give regular updates as important decisions and major developments take place.

Sincerely,
Russ Steinhorst, SHOPKO CEO
I like Shopko, but I don't see how the company can get out of the hole it's in. And since competitors like Target and Meijer are absent from a fair number of the smaller cities that Shopko operates in (including the aforementioned Manitowoc), this will bring Wal-Mart one more step towards total retail domination.
AT

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Re: Shopko files for bankruptcy

Post by pseudo3d » January 16th, 2019, 3:31 pm

So much for the ideas of "maybe Shopko can fill in the voids Kmart left behind", or "maybe Albertsons could buy Shopko for an IPO". :roll:

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Re: Shopko files for bankruptcy

Post by kr.abs.swy » January 16th, 2019, 8:15 pm

pseudo3d wrote:
January 16th, 2019, 3:31 pm
So much for the ideas of "maybe Shopko can fill in the voids Kmart left behind", or "maybe Albertsons could buy Shopko for an IPO". :roll:
Shopko hasn't been publicly traded for many years, so even if Albertsons were to buy them, it wouldn't be a backdoor IPO.

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Re: Shopko files for bankruptcy

Post by Super S » January 17th, 2019, 12:03 pm

pseudo3d wrote:
January 16th, 2019, 3:31 pm
So much for the ideas of "maybe Shopko can fill in the voids Kmart left behind", or "maybe Albertsons could buy Shopko for an IPO". :roll:
The potential was certainly there to fill the void left by Kmart. They are going to have a hard time doing that with what's left.

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Re: Shopko files for bankruptcy

Post by pseudo3d » January 23rd, 2019, 11:24 am

kr.abs.swy wrote:
January 16th, 2019, 8:15 pm
pseudo3d wrote:
January 16th, 2019, 3:31 pm
So much for the ideas of "maybe Shopko can fill in the voids Kmart left behind", or "maybe Albertsons could buy Shopko for an IPO". :roll:
Shopko hasn't been publicly traded for many years, so even if Albertsons were to buy them, it wouldn't be a backdoor IPO.
Huh, I thought they did. One of the things that I think hurt Shopko was merging with Pamida, which definitely had some spread-out stores, going as far south as the Texas Panhandle. They were also involved with Sun Capital Partners, which killed Marsh under their ownership.

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