Shopko Is Liquidating: These 2 Department Stores Could Be the Winners [The Motley Fool]
JC PENNEY (JCP)
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Source: The Motley Fool
Shopko Is Liquidating: These 2 Department Stores Could Be the Winners Earlier this year, struggling retailer Shopko filed for bankruptcy and announced plans to close a huge proportion of its stores in the hope of finding a buyer that could help it reorganize. Those efforts proved fruitless. Earlier this week, Shopko acknowledged that it wasn't able to find a buyer willing to keep the general merchandise chain going, even on a smaller scale. As a result, Shopko will liquidate all of its remaining stores over the next few months. This represents an important market share opportunity for several rivals -- most notably, Kohl's ( NYSE:KSS J.C. Penney NYSE:JCP Kohl's could get a nice sales lift from Shopko going out of business. Image source: Kohl's. Goodbye, Shopko When it filed for bankruptcy two months ago, Shopko said that it would shutter about 0% of its stores: 70 unprofitable stores and 0 that were only marginally profitable. A month later, the company more than doubled the list of s
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