Drug Deal Gone Bad: Shopko to File for Bankruptcy
As early as next week, Shopko could file for bankruptcy.
With Sears announcing earlier this year they were liquidating, the Green Bay based department store company could be soon following.
Basically, it boils down to this. Shopko got the drugs, but they couldn't pay for the drugs. They missed a scheduled payment in December, and now the dealer doesn't want to deal to Shopko. Now they're down $67 million.
It has to do with their pharmacy purchasing millions of dollars of medicines and products and not being able to pay for them, hence the reported bankruptcy. How this will affect the rest of the store is not completely known. It is known if this happens it would require Shopko to close at least their pharmacies, possibly even some stores.
It depends upon whether certain stores can stand on their own without the pharmacy sales support.
Drugs are expensive.
The company is expected to file for bankruptcy on January 15.