Monmouth’s Shopko closing as company stews in Chapter 11

Monmouth’s Shopko store will be closing.The closure wasn’t totally unexpected after the retail chain filed for Chapter 11 bankruptcy just weeks ago, citing “excess debt and competitive pressures.”

Monmouth is on an updated list Thursday with 139 stores closing in addition to 38 previously announced.

The last day for Monmouth store’s to be open is May 5.

We learned on the same day Shopko’s bankruptcy was announced that the Burlington, Iowa store would be shuttering.

Shopko, owned by private investment firm, Sun Capital Partners, says in a Wednesday evening statement they believe the closures and reduction in staff will make the company “more attractive to potential buyers and successfully emerge from Chapter 11.”

 

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