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February 11, 2019updated 12 Nov 2021 10:15am

US retail chain Shopko to close 139 stores

US-based retail stores chain Shopko has announced plans to close an additional 139 of its stores.

US-based retail stores chain Shopko has announced plans to close an additional 139 of its stores.

With the latest announcement, the total number of stores it has closed or plans to close are now more than 250. Ten closures will take place in North Dakota.

The retail chain announced the closure of 39 stores in December.

Store manager of Shopko store in Bowman, North Dakota, said that the employees were notified of the store closure in May, kxnet.com reported.

According to a Shopko official, only the top-performing stores will be kept open.

Bowman County Development Corporation executive director Teran Doerr said that the closing of the Bowman store could have people travelling more than 70 miles to shop.

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Shopko public relations manager Michelle Hansen said that the company plans to keep 120 open stores across 14 states.

Hansen added that around 50 optical centres will be relocated to new locations.

“Shopko public relations manager Michelle Hansen said that the company plans to keep 120 open stores across 14 states.”

Last month, the retail chain and its subsidiaries filed voluntary petitions for a court-supervised financial restructuring under Chapter 11 of the US Bankruptcy Code.

To help fund its operations during the process, the company obtained up to $480m debtor-in-possession financing from its prepetition secured lenders, led by Wells Fargo.

During the same month, drugstore chain Walgreens agreed to buy 63 pharmacy stores from the company through a bankruptcy auction, which was conducted at the offices of Kirkland and Ellis on 23 January.

Founded in 1962, the retailer operates general merchandise stores throughout the Central, Western, and Pacific Northwest regions of the US.