Beaver Dam Shopko joins list of stores to close
The Shopko retail chain is closing all of its remaining 120 stores, including the one in Beaver Dam, which has been a fixture in the community since the late 1960s.
Headquartered in Ashwaubenon, the retailer filed for bankruptcy protection in January, citing excessive debt and ongoing competitive pressure, and began announcing store closings.
The Beaver Dam store closed its pharmacy operations Jan. 30, but was initially expected to stay open. It was announced in February that nearby Shopko Hometown stores in Mayville and Columbus were two of 250 stores slated to close.
Also last month, Payless ShoeSource announced it was closing all of its retail locations, one of which was housed inside the Beaver Dam Shopko at 822 Park Ave. The current Shopko building, constructed in the mid-1990s, sits just east of its original site as part of the Park Village Mall.
Shopko said Monday the company was unable to find a buyer for its business. The company plans to begin winding down its retail operations this week and plans to shut its doors for good by mid-June.
The company decided not to move forward with an auction that was scheduled Tuesday. The liquidation is expected to take 10-12 weeks.
CEO Russ Steinhorst said in a statement “this is not the outcome that we had hoped for when we started our restructuring efforts.”
Shopko’s brick-and-mortar business began with one store in Green Bay in 1962.
The Associated Press contributed to this report.