Address of New Optical Location Still to Be Determined
Marshfield, WI (OnFocus) The final days of another retail giant are coming to pass as Shopko winds down its operations.
Shopko first announced it had filed for Chapter 11 bankruptcy in January, citing “excess debt and ongoing competitive pressures” as reasons for its financial restructuring. After attempts to find a buyer were unsuccessful, the company decided in March to liquidate its assets and close all stores by mid-June.
Sunday, June 23 will be the Marshfield store’s final day, but there is plenty of inventory left on the shelves, particularly in the clothes section. The entire store is currently priced at 60-80% off and all fixtures are for sale.
The majority of the remaining merchandise has moved its way toward the front, leaving shelves strikingly bare. Shelves that once held shoes, household items, and more are now empty or marked off by yellow tape.
In an attempt to lessen its remaining apparel inventory, on Tuesday Shopko is offering an extra 10% off for five items, or an extra 20% for 10 items. This excludes shoes, socks, jewelry, intimate, and accessories.
While the retail store will close, the Shopko optical business was purchased by private investing company Monarch Alternative Capital LP in May with plans to operate 80 freestanding locations, 42 of those in Wisconsin in 2019. Additional growth is expected in 2020.
Marshfield’s optical will be one of those transitioning to a new location, currently set for a late fall opening this year.
“Currently, the address is still being finalized, however Shopko Optical aims to have all new freestanding locations in close proximity to Shopko stores. Until the new store is open, the old location will continue to serve patients,” said Shopko Optical Interim CEO, Jim Eisen.