The Wisconsin-based retailer, Shopko has announced that it will be closing all of its stores by mid-June.
The Associated Press reports that Monday, the retailer said they were unable to find a buyer for the business and that they won't move forward with an auction that was set to take place on Tuesday.
The company said that the liquidation would take 10-12 weeks.
Prior to Monday's announcement, the North Spokane and Spokane Valley Shopkos were supposed to close earlier in May and the Pullman store was set to close after April 14. Those dates could be subject to change due to the announcement.
In Idaho, the Bonners Ferry store was also set to close in mid-May. The Coeur d’Alene store was supposed to remain open, but now will close.
Shopko filed for Chapter 11 reorganization under the U.S. Bankruptcy Code in mid-January, citing “excess debt and ongoing competitive pressures” in a news release.
Founded in 1962, Shopko operates 363 stores in 24 states in the Midwest, West and Pacific Northwest, according to the company’s website. That number includes 134 Shopko stores and 176 Shopko Hometown locations, which serve smaller communities. The company also operates five Shopko Pharmacies and five Shopko Express RX stores.