Quincy News

Shopko future uncertain, bankruptcy filing expected Tuesday

Media outlets have reported that Shopko, a Wisconsin-based retailer, is set to file for bankruptcy on Tuesday. | H-W Photo/Katelyn Metzger
By Herald-Whig
Posted: Jan. 10, 2019 7:05 pm Updated: Jan. 11, 2019 9:54 am

QUINCY -- The long-term future of the Shopko store in Quincy is unclear after reports this week by numerous media outlets that the Wisconsin-based retailer is expected to file for bankruptcy Tuesday.

The Herald-Whig received "no comment" replies from an official at the Quincy store when inquiring about both the overall situation regarding Shopko and the future of the 3200 Broadway site.

Bloomberg.com reports that Shopko runs 363 stores in 24 states under various formats.

Shopko's website indicates there are 134 Shopko stores, 176 Shopko Hometown locations, 18 Shopko Pharmacy locations and five Shopko Express stores.

The Shopko business dates to 1962.

The Shopko chain, which is based near Green Bay, Wis., is owned by Sun Capital Partners Inc., a privately held global investment firm headquartered in Boca Raton, Fla., that focuses on leveraged buyouts, equity, debt and other investments.

Sun Capital bought Shopko in 2005 for about $1.1 billion, according to Bloomberg.

In 2012, Shopko bought Pamida's 193 stores for an undisclosed amount in an effort to expand its presence in rural markets. The Pamida stores were rebranded ShopKo Hometown stores.

The downfall of the Shopko brands has followed the same pattern as other former major players in the retail market, succumbing to the unbridled rise of Amazon.

"Amazon is giving everyone (even) in the smallest communities access," Antony Karabus, chief executive officer of HRC Retail Advisory, told Bloomberg.

The pharmacy previously inside the Quincy Shopko store closed at 2 p.m. Wednesday. The Herald-Whig's news-gathering partners at WGEM previously reported the Quincy Hy-Vee stores had acquired the former Shopko patients' files and was to begin filling prescriptions Friday.

Hy-Vee, headquartered in West Des Moines, Iowa, has acquired Shopko pharmacies in Iowa, Illinois, Minnesota, Nebraska, South Dakota and Wisconsin, according to WGEM.

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