Our Mission

Learn who we are and how we serve our community

Leadership

Meet our leaders, trustees and team

ICSC Foundation

Support up-and-coming professionals

ICSC Exchange

Catch up on industry ideas, news and views

Research

Check out wide-ranging resources that educate and inspire

Global Public Policy

Learn about the governmental initiatives we support

Events

Connect with other professionals at a local, regional or national event

Professional Development

Grow your skills online, in a class or at an event with expert guidance

Find Members

Access our Member Directory and connect with colleagues

Find Outlets

Get data and contact information for shopping outlets

Talent HQ

Search and post jobs, upload your resume or find qualified candidates

Become a Member

Learn about how to join ICSC and the benefits of membership

Renew Membership

Stay connected with ICSC and continue to receive membership benefits

Industry News

Shopko to close one-third of its stores

March 19, 2019

Midwest department-store chain Shopko filed for Chapter 11 bankruptcy protection and said it would close roughly 100 of its 363 stores as part of the reorganization.

The troubled retailer, already in the midst of closing roughly 60 stores, added 38 more closures with this bankruptcy announcement, according to CBS. Shopko could not immediately say how many of its 18,000 employees would be affected.

Shopko says it plans to relocate about 20 optical centers to freestanding locations and that it is holding an auction process for its pharmacy business, according to a news release. The company has secured roughly $480 million in financing from a group of lenders led by Wells Fargo that will allow the company to keep operating.

"This decision is a difficult but necessary one," said Shopko CEO Russ Steinhorst in a press release. "In a challenging retail environment, we have had to make some very tough choices, but we are confident that by operating a smaller and more focused store footprint, we will be able to build a stronger Shopko that will better serve our customers, vendors, employees and other stakeholders through this process."

The Green Bay, Wis.–based company, which is owned by private equity firm Sun Capital Partners, operates in 24 states.

By Brannon Boswell

Executive Editor/SCT

SCT Week

Weekly newsletters like SCT Week put retail real estate news and trends in the palm of your hand.

Sign up now