Retailer Shopko has declared bankruptcy which likely will lead to the closing of its Nebraska stores.
Shopko filed for Chapter 11 bankruptcy protection, announcing it would close more than 100 stores as it attempts to reorganize. The company had already announced plans to close more than 60 stores. Shopko employs 18,000 workers at those stores.
The company says it hopes a more focused effort will help it survive.
Shopko was purchased by private-equity firm Sun Capitol Partners in 2005 for around $1.1 billion. It operates more than 350 stores in 24 states. Shopko was founded in 1962 and is based in Green Bay, Wisconsin.