(KMVT/KSVT/AP) — Three Treasure Valley Shopko locations are among the dozens of stores set to be closed after the Wisconsin-based retail chain has filed for bankruptcy protection.
The Shopko website lists two locations in Boise and one in Nampa set for closure.
According to information on the Shopko website, Shopko lists which of the optical centers that will be relocated. The three Treasure Valley locations were on the relocation list, but the pharmacies are on the list of those to be closed.
As of Jan. 18, the other nine Idaho Shopko locations were not on the list of stores being closed.
According The Associated Press, the company says excessive debt and ongoing competitive pressure are forcing it to seek protection from creditors. Shopko is reporting assets of less than $1 billion and liabilities of between $1 billion and $10 billion.
Shopko says it plans to continue operating through Chapter 11 reorganization after securing $480 million in financing from a group of lenders led by Wells Fargo Bank. The financing will allow Shopko to continue to pay employees, vendors and suppliers.
The retailer, headquartered near Green Bay, says it will close 38 more stores. Last month, it announced plans to close about 40 of its more than 300 stores across the country.