Shopko announced on Wednesday that it has filed for Chapter 11 in the District of Nebraska. The company is pursuing restructuring as a result of "excess debt and ongoing competitive pressures," the company stated in a press release.
Shopko, which is owned by private equity firm Sun Capital, will also close an additional 38 stores, relocate over 20 Optical centers to freestanding locations and will conduct an auction for its pharmacy operations. Shopko said in a letter to customers that remaining stores will be open during restructuring.. . . more