MADISON, Wis. - Two Madison Shopko locations will be closing after the company declared bancruptcy.
The Wisconsin Department of Workforce Development reported that the stores on Zeir and Mineral Point roads will be closing on April 12.
Shopko anticipates that the closures will affect 63 employees.
According to a press release, the company has filed voluntary petitions for a court-supervised financial restructuring under Chapter 11 of the United States Bankruptcy Code. Last week, the chain's pharmaceutical drug supplier McKesoon said Shopko has owed it $67 million since late last year.
In December, Shopko officials announced they were closing 39 stores in 19 states. Last week, six more stores were added to the list.
Officials with Shopko said Wednesday that the bankruptcy will provide a "path forward" and will rebuild the store into a profitable business again.
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