Investors buy Shopko headquarters, 75 stores

Posted on Apr 7, 2019 :: Insight on Business, Web Exclusive.
Posted by of Insight Publications

Two New York investment firms have purchased 75 Shopko stores and the bankrupt retailer’s headquarters in Ashwaubenon.

Monarch Alternative Capital and Raider Hill Advisors plan to lease, redevelop or sell the properties. Of the 75 stores being purchased, 25 are in Wisconsin. The store purchases are being treated as separate deals. So far, 14 Wisconsin stores have sold for $67 million, including $6.9 million for Shopko’s headquarters, according to the Wisconsin Department of Revenue.

Shopko filed for bankruptcy protection in mid-January and sought to reorganize with a smaller footprint. When the company could not find an investor to fund the plan, Shopko announced in mid-March that it would close all of its stores and liquidate all of its assets.