Shopko, the retail chain that recently announced plans to wind down its operations, is looking to auction its optical business, WTAQ-TV reports.
If the auction is successful, hundreds of jobs could be saved, according to the news outlet.
Shopko, which is based in Ashwaubenon, WI, is involved in “advanced negotiations with multiple potential bidders regarding a sale of the Optical Business,” according to a filing in U.S. bankruptcy court in Nebraska.
The company stated: “The Debtors believe that consummating a sale of the Optical Business could preserve as many as 700 jobs and keep as many as 80 store locations open, a tremendous achievement in light of these cases.
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“A sale of the Optical Business would also generate higher value than a liquidation of the related property, plant, equipment, and inventory.”
The company is looking to have all bids in hand on Friday, April 11, and hold the auction on Saturday.
Read more at the WTAQ-TV
