Shopko

Last updated

Shopko Stores, Inc.
Type Private
Industry Retail
FoundedApril 5, 1962;61 years ago (1962-04-05) (as ShopKo)
FounderJames Ruben
DefunctJune 23, 2019;4 years ago (2019-06-23) [1]
Fate Bankruptcy
Successor Shopko Optical
Headquarters Green Bay, Wisconsin, U.S.
Area served
United States
Key people
James Ruben (founder)
ProductsClothing, footwear, bedding, furniture, jewelry, beauty products, electronics, market, housewares, contact lenses.
RevenueIncrease2.svg US$ 3.3 billion (FY 2018) [2]
Number of employees
18,000 (2018) [2]
Website Shopko.com at the Wayback Machine (archived January 5, 2019)

Shopko (stylized as SHOPKO, formerly stylized as ShopKo) was a chain of department stores based in Green Bay, Wisconsin. All locations closed on June 23, 2019, with the exception of the Shopko Optical locations, [3] which continue to operate.

Contents

The company was founded in 1962 by James Ruben as ShopKo Corporation (with upper-case "K"). It opened its first store in 1962 in Green Bay, Wisconsin.

From 1991 to 2005, the company was publicly held, with stock traded on the New York Stock Exchange under the symbol SKO. In December 2005, the company was acquired by an affiliate of Sun Capital Partners and reverted to private ownership. Starting that year it opened a number of smaller stores named ShopKo Express. In June 2007, the company changed its name to Shopko Stores Inc. (with lower-case "k").

In 1999, Shopko purchased Pamida, a regional discount chain that operated mainly in smaller communities of 3,000 to 8,000 people. Shopko operated Pamida as a separate division until 2007, when Pamida was separated from Shopko and reestablished as a separate company. In 2012, Shopko and Pamida merged into one company. Shortly after, most Pamida stores were rebranded as Shopko Hometown.

Shopko filed for Chapter 11 bankruptcy on January 16, 2019. [4] On March 18, 2019, Shopko announced it would close all of its stores by summer 2019. All stores closed on June 23, 2019.

History

1960s

In March 1961, Chicago pharmacist James Ruben and other investors announced the formation of a corporation to open a $1 million (equivalent to $7,046,000in 2021) department store in Green Bay, Wisconsin, to be called "Shopco".

The store was opened in April 1962 at 216 S. Military Avenue; by that time, the spelling of the name had been changed to "ShopKo", and the company had been registered as "ShopKo Corporation" [5] [6] [7] [8] ShopKo became one of the first chains to offer such services as a pharmacy and eye care center within the store. [9]

In 1966, a second store "ShopKo East" was opened on Main Street, in Green Bay's east side, followed by several other locations in the state in the following years. [6]

In September 1969, the first ShopKo store in Michigan opened, in Marquette. [6]

1970s

In June 1970, Ruben announced plans for corporate headquarters on Ashland Avenue in Ashwaubenon, Wisconsin. In that same month, ShopKo Corp. was renamed "ShopKo Stores, Inc." [10]

In January 1971, the firm announced plans to merge with SuperValu of Minneapolis. [11]

Also in 1971, the new Ashwaubenon headquarters opened. [10] The merger with SuperValu was completed in April 1971. In August 1971, ShopKo announced plans to start putting pharmacies in its stores. [12]

In September 1972, Ruben left the company to become president of SuperValu, and William Tyrrell succeeded him. [10]

In 1977, ShopKo topped $100 million in sales. [9] Starting in 1978, ShopKo included optical centers in some stores. [13]

1980s

In 1983–1985, ShopKo opened a few new locations in a few converted former Copps Department Stores, including Fond du Lac, Wisconsin and Fort Atkinson, Wisconsin. This was in response to Copps refocusing their efforts on their supermarket business and to make it less of a prime target for shoplifting. In 1988, a new corporate headquarters opened in Ashwaubenon by the Bay Park Square Mall.The company hit $1 billion (equivalent to $2,006,000,000in 2021) in sales on the strength of 87 stores in 1988. [9]

In February 1989, ShopKo and SuperValu introduce Twin Valu, a hypermarket concept, in Cuyahoga Falls, Ohio, combining the general merchandise of ShopKo with the grocery selection of Cub Foods. [14]

1990s

ShopKo logo used from December 1991 to May 2007 Shopko.PNG
ShopKo logo used from December 1991 to May 2007

In 1990, ShopKo opened its 100th store, [9] including its first venture in California.

In mid-1991, SuperValu announced that ShopKo would become a publicly traded company. [15] The stock debuted at $15 (~$34.00 in 2022) a share. Dale Kramer also took over the reins of the company in 1991. [16]

In late 1991, ShopKo introduced a "Vision 2000" prototype model, which opened in Sheboygan, Wisconsin, Duluth, Minnesota, Dixon, Illinois, Loveland, Colorado, Longmont, Colorado, and Lacey, Washington, and relocated stores in Marshall, Minnesota, and Mitchell, South Dakota. [17] The construction of the Sheboygan store was affected by the collapse of an exterior wall that killed a stonemason, and the store opened with a memorial stone and flagpole overlooking the valley below dedicated in his honor. [18]

In 1996, ShopKo announced plans to merge with Phar-Mor, an Ohio-based chain, but those plans were later called off. [19]

Also in 1997, Phar-Mor split from ShopKo, [20] and ShopKo bought out all of SuperValu's stock in the company. [21] ShopKo was among the first retailers in the nation to halt all tobacco sales permanently in the same year. [22]

In 1998 the company acquired Venture Stores in Kentucky, Iowa, Missouri, Illinois and Kansas. [23]

In 1999, William Podany became President of ShopKo. [24] He led the acquisition of 147 Pamida stores later that year. [25] ShopKo also launched spin-off pharmaceutical company ProVantage on to the stock market. [26]

The 1999 "Beyond 2000" prototype store in Meridian, Idaho, in April 2006 (closed in February 2017). This building now houses an Albertsons Market Street supermarket. Meridian Shopko.jpg
The 1999 "Beyond 2000" prototype store in Meridian, Idaho, in April 2006 (closed in February 2017). This building now houses an Albertsons Market Street supermarket.

Late in 1999, ShopKo opened its first test prototype store in Meridian, Idaho, named "Beyond 2000," referring to ShopKo's Beyond 2000 merchandising strategy, the successor to the Vision 2000 strategy of the early 1990s. [27]

2000s

In March 2000, shares of ShopKo hit a record $3.57, (~$6.00 in 2022) up 70% from the year before. Later that year, the firm announced that it would sell ProVantage to Merck & Co. for about $222 million.In May 2000, ShopKo agreed to buy P.M. Place Stores, a 49-location chain, for $22 million (equivalent to $33,370,000in 2021), with plans to convert those locations to Pamidas. [28] [29]

Early in 2001, ShopKo announced the closings of 23 stores and a distribution center, cutting 2,500 jobs and bowing out of Missouri, Indiana, Kansas, and Kentucky. [30]

In April 2002 the company's CEO, William Podany, resigned. Jeffrey Girard became his interim replacement, [31] until Sam Duncan took over in October. [32] [33]

In 2005, ShopKo opened the first few "ShopKo Express" locations, which were smaller, and aimed at competition with Walgreens and CVS Pharmacy. [34] Around that time, the chain exited the state of Colorado [35] (some locations were acquired by JCPenney), and closed its Reno, Nevada locations.

Late in 2005, ShopKo was acquired by Sun Capital Partners. [36]

In May 2006, Michael MacDonald took over as CEO. [36]

In 2007, Pamida spun off from ShopKo. [37]

Also in 2007, ShopKo rebranded, dropping the capital camel case "K" in its name and introducing a new logo., [38] but Shopko Express stores retained the older style until fall 2008.[ citation needed ]

In 2008, Shopko Express expanded into urban markets with the opening of a Green Bay, Wisconsin location, but this store was shuttered less than a year after it was opened. [39]

During the late 2000s, ShopKo started to anchor more shopping centers, such as the ones in Suamico, Wisconsin and North Branch, Minnesota. [40]

In April 2009, Michael MacDonald resigned as CEO, to become CEO of DSW, Inc., and was replaced by W. Paul Jones. [41]

In late 2009, Shopko started online shopping service. [42]

2010s

In May 2010, Shopko outsourced its IT services to HCL Technologies, based in Chennai, India. [43]

In the summer of 2010, Shopko opened its first two "Shopko Hometown" stores, which were converted from Pamida locations. [44]

In 2011, Shopko placed even more emphasis on its Hometown subsidiary, opening nine new locations and closing regular stores to focus on the Hometown stores. [45]

In 2012, a decade after it spun off from Shopko, Pamida merged with Shopko; all Pamida stores were rebranded as Shopko Hometown stores. [46] The total cost for the remodel was estimated at $80 million. [47]

Later in 2012, W. Paul Jones resigned from the company's top post and Mike Bettiga took over as interim CEO. [48]

In 2013, Peter McMahon was named Shopko's new CEO. [49]

In 2015, due to bankruptcy, Shopko acquired 20 ALCO Stores locations with the plan of converting them to Hometown locations. Shopko also changed its slogan to "The Stuff that Counts". [50]

Late in 2016, Shopko closed four stores due to poor sales [51] [52] [53] but also opened one in Ely, Nevada. [54]

In November 2016 Shopko launched its first credit card. [55]

In late 2016 and early 2017 the firm also remodeled its larger stores to include some groceries, with limited frozen and perishable goods (mainly frozen pizza and dairy products). [56]

Chapter 11 and liquidation

On December 4, 2018 Shopko confirmed that they were closing 39 stores. [57] The following day, Bloomberg reported that Sun Capital had failed to find a buyer for Shopko and that the capital partners found a Chapter 11 situation increasingly likely. [58]

Shopko began closing its pharmacies in December 2018 and selling their patient records to local competitors including Walgreens, CVS, Hy-Vee and Kroger.On January 8, 2019, McKesson Corporation filed a suit against Shopko, seeking $67 million (equivalent to $70,630,000in 2021) in delinquent payments. [59] Along with the announcement, it was reported that Shopko could file for bankruptcy as early as January 15. On January 16, 2019, Shopko filed for Chapter 11 bankruptcy in Nebraska court, citing tough market competition and assets of less than $1 billion compared to liabilities of up to $10 billion (equivalent to $10,540,000,000in 2021). [60] Shopko also announced the closure of another 105 of its 363 stores, including its original Military Ave. store in Green Bay.

On February 7, 2019, Shopko confirmed the closure of 251 stores or 70 percent of its locations closing in phases between March 2, 2019 and May 12, 2019. [61] The list included 77 Shopko stores, 165 Hometown Values stores, both the 2 standalone pharmacies, and all 7 Express stores. Shopko will exit the states of California, Colorado, Indiana, Kansas, Kentucky, Nevada, New Mexico, Ohio, Oklahoma, Oregon, Texas, Utah, and Washington.

On March 18, 2019, Shopko announced the closure of all remaining stores, due to a buyer not being found for the chain. Liquidation sales ran through the summer.

On April 22, 2019, Shopko announced to employees that despite the fact that the company signed a contract for severance pay, only certain states would actually be paid.In April 2019, Monarch Alternative Capital LP purchased Shopko's optical operations for $8.5 million (equivalent to $8,960,000in 2021). The optical centers continued to operate inside the otherwise-shuttered store locations until smaller locations could be found. [62]

Several former Shopko locations have been repurposed. The former Shopko Hometowns in St Peter Minnesota [63] and New Prague Minnesota [64] have been converted to Hy-Vees. As of March 17, 2022, a former Shopko in Mankato, Minnesota was being converted into a mixed-use space intended to house a restaurant, indoor ice rink, and indoor event center. [65]

Organization

Shopko

Store facade at Houghton, Michigan, location in April 2012. This location closed on May 11, 2019. ShopKo Houghton.jpg
Store facade at Houghton, Michigan, location in April 2012. This location closed on May 11, 2019.
The first Shopko store in Green Bay, Wisconsin, and the marker commemorating its status, both taken in August 2009. This location closed on April 22, 2019. First Shopko.JPG
The first Shopko store in Green Bay, Wisconsin, and the marker commemorating its status, both taken in August 2009. This location closed on April 22, 2019.

By the time it went out of business, the company operated 363 stores in 24 states including, but not limited to, California, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Michigan, Minnesota, Missouri, Montana, Nebraska, Nevada, North Dakota, Ohio, Oregon, South Dakota, Utah, Washington, Wisconsin, and Wyoming. Stores were typically placed in small to mid-sized communities. Most Shopko stores were located in strip malls, shopping malls, power centers, or freestanding locations. Shopko, with partnerships from Green Bay, Wisconsin-based Bellin Health and other local hospitals, also operated walk-in clinics inside its stores called FastCare.

Past slogans include "Say hello to a good buy at ShopKo", "ShopKo discounts the price...not the quality.", "We won't be undersold.", "ShopKo: Discover for Yourself", "ShopKo - The Store for You.", "ShopKo - Your Lifestyle, Your Pricestyle.", "Shopko - Neat stuff, neat store." and "My life...my style...my store". Shopko's last slogan was "The Stuff that Counts", which was used from 2015 to 2019. The slogan for Shopko Express pharmacy was "Every day. On your way."[ citation needed ]

Karen McDiarmid was Shopko's spokesperson in the 1980s and 1990s.

Shopko sponsored the exhibition hall venue portion of the Brown County Veterans Memorial Arena/Resch Center complex, known as Shopko Hall. [66] Unrelated to the bankruptcy in any case, Shopko Hall closed on April 28, 2019 with the BCVMA and was demolished, and was replaced with a new expo hall known as the Resch Expo. [67]

Subsidiaries

Shopko Express

Shopko Express (stylized as Shopko EXP℞ESS) was a chain of pharmacies owned by Shopko. Shopko Express carried a limited selection of general merchandise, groceries, beer, wine, health and beauty supplies, and over-the-counter medicines. Shopko Express also carried lottery tickets.

Shopko Hometown

Shopko Hometown in Standish, Michigan, in October 2017. This location closed on March 17, 2019. Shopko standish.jpg
Shopko Hometown in Standish, Michigan, in October 2017. This location closed on March 17, 2019.

In 2012 Shopko acquired Pamida and all former Pamida locations then operated as Shopko Hometown stores. Shopko Hometown stores were aimed at smaller communities ranging from 3,000 to 8,000 in population. They carried about 70% of the merchandise of Shopko's larger stores. The first two stores opened in 2010 in Oconto, Wisconsin and Kewaunee, Wisconsin inside converted Pamida locations. [44] In 2015, 20 locations were acquired from the bankrupt ALCO Stores chain, and were converted into Shopko Hometown stores. [68]

Payless ShoeSource

In 1999, Shopko signed a contract with Payless ShoeSource, leasing the floorspace to the shoe chain within Shopko stores with prominent front signage, replacing the previous contract with J. Baker, Inc. as the retailer in charge of the discount shoe department. The changeover was completed by late June 2000. After filing for bankruptcy for the second time, Payless ShoeSource coincidentally closed their stores at the same time Shopko was going out of business.

Private-label brands

Shopko sold an assortment of private-label store-brand products, primarily in apparel and general merchandise. [69] Popular brands include Shopko, Willow Bay, Bailey's Point, NorthCrest, Energy Zone, Soft Sensations, Peanut & Ollie and Green Soda. [70]

Acquisitions

Distribution

Distribution and transportation was managed by Spectrum America Supply Chain Solutions, a subsidiary of Metro Supply Chain group created in 2016. [71] Shopko's distribution centers were located in De Pere, Wisconsin, Omaha, Nebraska, Quincy, Illinois and Boise, Idaho. [72]

See also

Related Research Articles

Albertsons Companies, Inc. is an American grocery company founded and headquartered in Boise, Idaho.

<span class="mw-page-title-main">Kmart</span> U.S. big box retailer and subsidiary of Transform Holdco LLC

Kmart Corporation is an American retail company that owns a chain of big-box department stores. The company is headquartered in Hoffman Estates, Illinois, United States. The company was incorporated in 1899 as S. S. Kresge Corporation and renamed Kmart Corporation in 1977. The first store with the Kmart name opened in 1962 in Garden City, Michigan. At its peak in 1994, Kmart operated 2,486 stores globally, including 2,323 discount stores and Super Kmart Center locations in the United States. As of April 16, 2022, that number was down to nine, including just three in the continental United States. From 2005 through 2019, Kmart was a subsidiary of Sears Holdings Corporation. Since 2019, Kmart has been a subsidiary of Transform SR Brands LLC, a privately held company that was formed in 2019 to acquire assets from Sears Holdings.

<span class="mw-page-title-main">Sears</span> Department store chain in the United States

Sears, Roebuck and Co., commonly known as Sears, is an American chain of department stores founded in 1892 by Richard Warren Sears and Alvah Curtis Roebuck and reincorporated in 1906 by Richard Sears and Julius Rosenwald, with what began as a mail ordering catalog company migrating to opening retail locations in 1925, the first in Chicago. In 2005, the company was bought by the management of the American big box discount chain Kmart, which upon completion of the merger, formed Sears Holdings. Through the 1980s, Sears was the largest retailer in the United States. In 2018, it was the 31st-largest. After several years of declining sales, Sears's parent company filed for Chapter 11 bankruptcy on October 15, 2018. It announced on January 16, 2019, that it had won its bankruptcy auction, and that a reduced number of 425 stores would remain open, including 223 Sears stores.

<span class="mw-page-title-main">Kroger</span> American retail company

The Kroger Company, or simply Kroger, is an American retail company that operates supermarkets and multi-department stores throughout the United States.

<span class="mw-page-title-main">Pamida</span> Defunct American department store chain

Pamida was a chain of department stores with more than 175 locations in 16 Midwestern and West Central U.S. states. Founded by D.J. Witherspoon and Lee Wegener in 1963, Pamida stores were generally located in smaller, rural communities that range from 3,000 to 8,000 in population. The Pamida name represents the first two letters of the first names of co-founder D.J. (Jim) Witherspoon's three sons: Pat, Mike, and David.

<span class="mw-page-title-main">Save-A-Lot</span> American retail and grocery company

Save A Lot Food Stores Ltd. is an American discount supermarket chain store headquartered in St. Ann, Missouri, in Greater St. Louis. It has about 900 independently owned and operated stores across 32 states in the United States with over $4 billion in annual sales.

<span class="mw-page-title-main">Hy-Vee</span> American supermarket chain

Hy-Vee, Inc. is an employee-owned chain of supermarkets in the Midwestern and Southern United States, with more than 280 locations in Iowa, Illinois, Kansas, Minnesota, Missouri, Nebraska, South Dakota, Wisconsin, with stores planned in Indiana, Kentucky, Tennessee, and Alabama. Hy-Vee was founded in 1930 by Charles Hyde and David Vredenburg in Beaconsfield, Iowa, in a small brick building known as the Beaconsfield Supply Store, which is listed on the National Register of Historic Places.

Schnucks is a supermarket chain. Based in the St. Louis area, the company was founded in 1939 with the opening of a 1,000-square-foot (93 m2) store in north St. Louis and currently operates over 100 stores in four states throughout the Midwest. Schnucks also ran stores under the Logli Supermarkets and Hilander Foods banners. Schnucks is one of the largest privately-held supermarket chains in the United States and dominates the St. Louis metro grocery market.

<span class="mw-page-title-main">Bay Park Square</span> Mall in Green Bay, Wisconsin, United States

Bay Park Square is a shopping mall owned by Simon Property Group, in the Green Bay, Wisconsin suburb of Ashwaubenon, in the United States. The mall opened in 1980 under the ownership of DeBartolo Corporation. Bay Park Square is located one mile (1.6 km) away from Lambeau Field on South Oneida Street.

SuperValu, Inc., was an American wholesaler and retailer of grocery products. The company, formerly headquartered in the Minneapolis suburb of Eden Prairie, Minnesota, had been in business since 1926. It is a wholly owned subsidiary of United Natural Foods (UNFI).

<span class="mw-page-title-main">Cub (supermarket)</span> American supermarket chain owned by United Natural Foods

Cub is an American supermarket chain. It operates stores in Minnesota and Illinois. The company is a wholly owned subsidiary of United Natural Foods, based in Providence, Rhode Island.

Shop ’n Save was a grocery store chain in the Greater St. Louis market with 36 stores at its peak. The company, headquartered in Kirkwood, Missouri, was a wholly owned subsidiary of SuperValu, based in Eden Prairie, Minnesota.

<span class="mw-page-title-main">Giant Eagle</span> American supermarket chain

Giant Eagle, Inc. and stylized as giant eagle) is an American supermarket chain with stores in Pennsylvania, Ohio, West Virginia, Indiana, and Maryland. The company was founded in 1918 in Pittsburgh, Pennsylvania, and incorporated on August 31, 1931. Supermarket News ranked Giant Eagle 21st on the "Top 75 North American Food Retailers" based on sales of $11 billion. In 2021, it was the 36th-largest privately held company, as determined by Forbes. Based on 2005 revenue, Giant Eagle is the 49th-largest retailer in the United States. As of summer 2014, the company had approximately $9.9 billion in annual sales. As of spring 2023, Giant Eagle, Inc. had 493 stores across the portfolio: 211 supermarkets 8 standalone pharmacies, 274 fuel station/convenience stores under the GetGo banner, and one standalone car wash under the WetGo banner. The company is headquartered in an office park in the Pittsburgh suburb of O'Hara Township.

<span class="mw-page-title-main">Shaw's and Star Market</span> American supermarket chains in New England region owned by Albertsons Companies, Inc

Shaw's and Star Market are two American supermarket chains under united management based in West Bridgewater, Massachusetts, employing about 30,000 associates in 150 total stores; 129 stores are operated under the Shaw's banner in Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont, while Star Market operates 21 stores in Massachusetts, most of which are in or near Boston. Until 2010, Shaw's operated stores in all six New England states, and as of 2021 Shaw's remained the only supermarket chain with stores in five of the six, after it sold its Connecticut operations. The chain's largest competitors are Hannaford, Market Basket, Price Chopper, Roche Bros., Wegmans, and Stop & Shop. Star Market is a companion store to Shaw's, Shaw's having purchased the competing chain in 1999.

<span class="mw-page-title-main">ALCO Stores</span> Defunct retail store

ALCO Stores, Inc. was a retail chain operating 198 stores in 23 states, primarily in the United States Midwest. The company was founded in 1901 in Kansas by Alva Lease Duckwall.

<span class="mw-page-title-main">Gordmans</span> Defunct American retailer

Gordmans was a retailer founded in Omaha, Nebraska. The chain is owned by BrandX as of May 2022. In 2019, Stage Stores began converting other retail chains it owned into Gordmans stores, with the goal of having 700 Gordmans stores in 42 states by the end of 2020. In May 2020, Stage Stores filed for Chapter 11 bankruptcy and began liquidating its stores. Although a buyer for Stage could have prevented liquidation, Stage later announced that they would proceed with going out of business sales at all locations. There is one store in the town of Algonquin, Illinois.

<span class="mw-page-title-main">Twin Valu</span> Defunct U.S. hypermarket

Twin Valu is a defunct U.S. hypermarket and was one of the first hypermarkets in the Akron, Ohio, area. The original Twin Valu store was located on Howe Avenue in Cuyahoga Falls, Ohio. The $10 million, 180,000-square-foot (17,000 m2) store was open 24 hours a day, 7 days a week. It boasted 52 checkout lanes, a full bakery, deli, meat department, smokehouse, food court, floral department, jewelry department, electronics department, photo department, vision center, and pharmacy in addition to groceries, clothing, housewares, and general merchandise. A Star Bank branch location was added later.

<span class="mw-page-title-main">Southeastern Grocers</span> American supermarket company

Southeastern Grocers is a supermarket portfolio headquartered in Jacksonville, Florida. The portfolio was created by Lone Star Funds in September 2013 as the new parent company for Harveys, Winn-Dixie, and Fresco y Más. Southeastern Grocers was rated #31 in the Forbes 2015 ranking of America's Largest Private Companies. In February 2017, Anthony Hucker was appointed as president and CEO of Southeastern Grocers. On August 16, 2023, the company announced its intention to sell all Winn-Dixie and Harveys stores to German supermarket chain Aldi, and all locations will either remain open under their respective brands or convert into the ALDI brand. SEG has also agreed to divest its Fresco y Más operations, via a sale of the banner that the company expects to close in the first quarter of 2024. The Fresco y Más banner, including all 28 stores and four pharmacies, will be sold to Fresco Retail Group LLC, an investment group focused on food and grocery. Fresco Retail Group, LLC plans for all stores and pharmacies in the Fresco y Más banner to continue operating as they are presently.

Bellin Health System is a health care service headquartered in Green Bay, Wisconsin. Bellin Health serves northeastern Wisconsin and the Upper Peninsula of Michigan.

Transform SR Brands LLC is an American privately held company formed on February 11, 2019, to acquire some of the assets of Sears Holdings Corporation. The new company is owned by ESL Investments. Following the Chapter 11 bankruptcy filing of Sears Holdings on October 15, 2018, Transformco purchased the surviving assets owned by Sears Holdings for $5.2 billion.

References

  1. ↑ "Shopko's last day: Shoppers scour stores for final deals as bankrupt company shuts down". Post-Crescent Media. Retrieved June 23, 2019.
  2. 1 2 "America's Largest Private Companies". Forbes.
  3. ↑ "Find a Shopko Optical Eye Care Center & Schedule an Exam". www.shopko.com. Retrieved January 14, 2021.
  4. ↑ "Shopko to close more than 250 stores amid bankruptcy filing". MSN. Retrieved February 9, 2019.
  5. ↑ (2019): "Shopko timeline of notable events, from 1961-2019". Online article at Green Bay Press Gazette website, accessed on 2019-05-15
  6. 1 2 3 "PROPERTY RECORD 3340 DELAHAUT ST". Wisconsin Historical Society. January 2012. Retrieved January 17, 2017.
  7. ↑ Lehrke, Jennifer L. (2012–2013). "Village of Allouez, Wisconsin Architectural and Historical Intensive Survey Report" (PDF). Retrieved March 21, 2017.
  8. ↑ "ShopKo Stores Inc. History". Funding Universe. Retrieved January 17, 2017.
  9. 1 2 3 4 "Shopko: company profile on Apparel Search" . Retrieved March 21, 2017.
  10. 1 2 3 "Green Bay Press-Gazette from Green Bay, Wisconsin on April 9, 2005 · Page 5". Newspapers.com. Retrieved March 21, 2017.
  11. ↑ Williams, Orice M. (May 1, 2009). Private Equity: Recent Growth in Leveraged Buyouts Exposed Risks That Warrant Continued Attention. DIANE Publishing. ISBN   9781437911275.
  12. ↑ "ShopKo Stores Inc facts, information, pictures | Encyclopedia.com articles about ShopKo Stores Inc". Encyclopedia.com. Retrieved March 21, 2017.
  13. ↑ ""ShopKo Putting in Pharmacies through Its New Acquisitions" by Cassell, Dana K - Drug Topics, Vol. 142, Issue 2, January 19, 1998". Archived from the original on March 22, 2017. Retrieved March 21, 2017.
  14. ↑ "ShopKo's Twin Valu hypermarket debuts | Discount Store News | Find Ar..." archive.is. July 11, 2012. Archived from the original on July 11, 2012. Retrieved March 21, 2017.
  15. ↑ "Super Valu Stores reports higher earnings, announces ShopKo IPO". UPI. Retrieved March 21, 2017.
  16. ↑ "Dale P. Kramer: Executive Profile & Biography - Bloomberg". Bloomberg.com. Retrieved March 21, 2017.
  17. ↑ "ShopKo goes for "soft" sell with Vision 2000 prototype - Vision 2000, marketing policy - Two Super Regionals Revamp". Discount Store News. 1991.
  18. ↑ "Wall Collapses at Store Under Construction, Killing One". Associated Press. April 9, 1993. Retrieved March 15, 2023.
  19. ↑ Murray, Matt (September 10, 1996). "Phar-Mor, ShopKo to Merge In a Complex Transaction". Wall Street Journal. ISSN   0099-9660 . Retrieved March 21, 2017.
  20. ↑ Murray, Matt; Coleman, Calmetta Y. (April 3, 1997). "ShopKo, Phar-Mor Abandon Merger Talks After 7 Months". Wall Street Journal. ISSN   0099-9660 . Retrieved March 21, 2017.
  21. ↑ News, Bloomberg (April 26, 1997). "SUPERVALU TO END ITS INVESTMENT IN SHOPKO STORES". The New York Times. ISSN   0362-4331 . Retrieved March 20, 2017.{{cite news}}: |last= has generic name (help)
  22. ↑ LEVIN, MYRON (November 5, 1997). "ShopKo Banishing Tobacco Products". Los Angeles Times. ISSN   0458-3035 . Retrieved March 21, 2017.
  23. ↑ Inc., ShopKo Stores. "ShopKo to Open 13 New Stores". Prnewswire.com. Retrieved March 21, 2017.{{cite web}}: |last= has generic name (help)
  24. ↑ "ShopKo's Dale Kramer Announces Plan to Retire, William Podany to Succeed as President and CEO". Prnewswire.com. Retrieved March 20, 2017.
  25. ↑ Jones, Dow (May 12, 1999). "COMPANY NEWS; SHOPKO STORES TO BUY PAMIDA, A RURAL MERCHANDISER". The New York Times. ISSN   0362-4331 . Retrieved March 21, 2017.
  26. ↑ "ShopKo Announces ProVantage Initial Public Offering". Prnewswire.com. Retrieved March 21, 2017.
  27. ↑ "Shopko to shut down Meridian store". BoiseDev.com. Retrieved March 21, 2017.
  28. ↑ Karr, Arnold J. (May 2000). "ShopKo Plans to Sell ProVantage to Merck" . WWD: Women's Wear Daily. 179 (88): 19.
  29. 1 2 "ShopKo to buy P.M. Place Stores for $22M". Milwaukee Business Journal. Retrieved December 28, 2019.
  30. ↑ Geyer, Thomas. "ShopKo to close 23 stores". The Quad-City Times. Retrieved March 20, 2017.
  31. ↑ "Podany exits ShopKo; Girard takes the reins as interim ceo - Home Textiles Today". Homeandtextilestoday.com. April 9, 2002. Retrieved March 20, 2017.
  32. ↑ "ShopKo Stores, Inc. Names Sam K. Duncan CEO and President". Prnewswire.com. Retrieved March 20, 2017.
  33. ↑ "ShopKo Names New President-CEO". Visual Merchandising and Store Design. Retrieved March 20, 2017.
  34. ↑ Levy, Sandra (February 7, 2005). "Express Rx is next stop for ShopKo Stores". Drug Topics. Retrieved March 20, 2017.
  35. ↑ "ShopKo Closes Colorado stores; 320 Jobs Lost". 7NEWS. July 19, 2005. Retrieved March 20, 2017.
  36. 1 2 "ShopKo appoints Michael MacDonald chairman and ceo | Home Textiles Today". Homeandtextilestoday.com. May 24, 2006. Retrieved March 20, 2017.
  37. ↑ "Materials presented by UBS Securities LLC on March 18, 2004". Sec.gov. Retrieved March 20, 2017.
  38. ↑ Star, MATT OLBERDING/Lincoln Journal. "Lincoln ShopKo to be among first to get new look". JournalStar.com. Retrieved March 20, 2017.
  39. ↑ "Story, photos: Downtown location, recession hurt Shopko Express". Greenbaypressgazette.com. Retrieved February 7, 2014.[ permanent dead link ]
  40. ↑ "Shopko Announces Plans for Two New Stores". Prnewswire.com. Retrieved March 20, 2017.
  41. ↑ "Shopko CEO MacDonald resigns". archive.jsonline.com. Retrieved March 20, 2017.
  42. ↑ "Shopko relaunches its e-retail site". Digital Commerce 360. March 15, 2011. Retrieved March 20, 2017.
  43. ↑ Shopko to outsource IT operation Archived May 8, 2010, at the Wayback Machine
  44. 1 2 "Shopko concept targets smaller communities". Greenbaypressgazette.com. Retrieved February 7, 2014.[ permanent dead link ]
  45. ↑ "Tim Landis: Conversion of Wabash ShopKo to Farm and Home has begun - News - The State Journal-Register - Springfield, IL". Sj-r.com. September 18, 2011. Retrieved February 8, 2014.
  46. ↑ "Shopko Stores and Pamida to Merge to Create one of the Nation's Largest General Merchandise Retailers Focused on Smaller Communities" (PDF). Lambert, Edwards & Associates. January 4, 2012. p. 2. Archived from the original (PDF) on January 31, 2012.
  47. ↑ "SHOPKO STORES OPERATING CO., LLC|Company Profile|Vault.com". Vault. Retrieved March 20, 2017.
  48. ↑ "Shopko CEO Jones leaves firm; interim chief named". The Business Journal. October 12, 2012. Retrieved April 25, 2013.
  49. ↑ "Peter McMahon Named Shopko's New CEO", PRNewswire, November 25, 2013. Retrieved November 25, 2013.
  50. ↑ "Shopko's new brand: 'The Stuff that Counts'". Press Gazette Media. Retrieved October 28, 2015.
  51. ↑ Yowell, Paige (November 17, 2016). "Two metro-area Shopkos to close". Omaha.com. Retrieved March 20, 2017.
  52. ↑ "Shopko Closing a Treasure Valley Location". 103.5 KISSFM. November 16, 2016. Retrieved March 20, 2017.
  53. ↑ Crook, Jordan (November 7, 2016). "Shopko announces plans to close Hoopeston store". Hoopeston Chronicle. Archived from the original on July 14, 2018. Retrieved March 20, 2017.
  54. ↑ Roberts-McMurray, Kaylynn (November 24, 2016). "Shopko celebrates grand opening". The Ely Times. Retrieved November 25, 2016.
  55. ↑ "Shopko Launches First Private Label Credit Card Program In Partnership with First Bankcard". Businesswire.com (Press release). November 14, 2016. Retrieved March 20, 2017.
  56. ↑ "The Buzz: Shopko adds groceries". Post-Crescent Media. Retrieved March 20, 2017.
  57. ↑ Howland, Daphne (December 4, 2018). "Shopko closing 39 stores". RetailDive. Retrieved January 17, 2019.
  58. ↑ Doherty, Katherine (December 4, 2018). "Sun Capital's Shopko Stores Prepares for Possible Bankruptcy". Bloomberg . Retrieved January 17, 2019.
  59. ↑ Schmidt, Brittany (January 8, 2019). "Pharmaceutical company seeks $67 million from Shopko". WBAY . Retrieved January 17, 2019.
  60. ↑ Bollier, Jeff (January 16, 2019). "Shopko files for bankruptcy, will close 105 stores, including 16 in Wisconsin". Green Bay Press-Gazette . Retrieved January 17, 2019.
  61. ↑ Bollier, Jeff (February 6, 2019). "Shopko store closures more than double, now exceed 250". Green Bay Press-Gazette . Retrieved February 8, 2019.
  62. ↑ Bollier, Jeff (April 18, 2019). "Shopko: 5 things consumers should know now that optical will survive company's bankruptcy". Green Bay Press-Gazette . Retrieved June 28, 2019.
  63. ↑ Press, The Free (June 13, 2019). "Hy-Vee opening grocery in St. Peter Shopko building". Mankato Free Press. Retrieved April 20, 2022.
  64. ↑ "Former Shopko to be converted". MN South News. April 9, 2020. Retrieved April 20, 2022.
  65. ↑ Krohn, Tim (March 17, 2022). "Shopko site redevelopment underway that includes ice rink, ale house, event center". Mankato Free Press. Retrieved April 20, 2022.
  66. ↑ "Technical Information" (PDF). Expoandeventgreenbay.com. Retrieved June 2, 2019.
  67. ↑ "First look at the planned $93 million Brown County Expo Center". Press Gazette Media. Retrieved April 23, 2019.
  68. ↑ "Shopko to revive 20 closed Alco stores, including 3 in Kansas". Kansas.com. Retrieved July 20, 2015.
  69. ↑ "Shopko expands private-label product range". Archived from the original on February 2, 2017. Retrieved January 24, 2017.
  70. ↑ "Business DirectoryScott City". scottcityks.org. Archived from the original on February 2, 2017. Retrieved January 24, 2017.
  71. ↑ "Spectrum America Supply Chain Solutions". Spectrum America Supply Chain Solutions. Archived from the original on January 18, 2017. Retrieved January 17, 2017.
  72. ↑ "Locations". Spectrum America Supply Chain Solutions. Archived from the original on January 18, 2017. Retrieved January 17, 2017.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.