Monmouth Shopko to close as company declares bankruptcy
MONMOUTH, Illinois- Monmouth Shopko along with 139 other locations will be closing as the company files for Chapter 11 bankruptcy.
According to the list of stores closing, the Shopko store at 1190 North 6th Street, is planned to cease operations May 5, 2019.
The Monmouth retailer employs around 40 workers.
Michelle Hansen, a public relations manager of The Shopko Foundation, said the company plans to relocate many of it’s optical centers in closing stores to new freestanding locations. It is unknown at this time if the Monmouth Shopko optical is among the locations.
“Through our conversations with the potential buyers, it has become clear that it is in our best interest to operate with a significantly smaller store footprint, We remain hopeful that we will be able to emerge as a stronger company, and we believe that this is the best course of action to make ourselves more attractive to potential buyers and successfully emerge from Chapter 11.”
Shopko has been a staple in Monmouth for more than a decade.
According to it’s website, “Shopko currently operates 134 Shopko stores, 176 Shopko Hometown locations, 18 Shopko Pharmacy locations and 5 Shopko Express stores.”
“On January 16, 2019, Shopko, a leading operator of general merchandise stores throughout the Central, Western and Pacific Northwest regions of the U.S., announced that it, along with its subsidiaries, has filed voluntary petitions for a court-supervised financial restructuring under Chapter 11 of the United States Bankruptcy Code.”