Shopko To Close 39 Stores – 2 In MN + 1 In WI
Wisconsin-based big box store Shopko has announced plans to close 39 store locations across 19 states. The liquidation sales will start immediately with no disclosed final "open" date. The move affects two stores in Minnesota and one location in Wisconsin; neither are located in the northern part of the states.
Shopko operates 364 locations across 24 different states. Locally, shoppers have stores in Duluth, Two Harbors, and Ely in Minnesota and Spooner in Wisconsin.
According to news reports, each Shopko store employs 10-25 staff members, resulting in a calculation of job loss at "400 to 1,000" people.
Investors suggest that the store closures weren't a surprise as the move follows "long-term outlook on profitability, sales trends, and growth potential".