Southeast Missouri Business NEWS & VIEWS...
SHOPKO CLOSING
CAPE GIRARDEAU STORE...
Shopko Store at West Park Mall in Cape
Westfield Shopping Mall in Cape Girardeau will be without one of it's anchor stores with the announcement of the closing of ShopKo on January 31st. The Cape store is among 23 other ShopKo stores that will close in seven Midwestern states. The retailer with 394 stores in 22 states is headquartered in Green Bay, Wisconsin.
Soft sales and low margins combined with third quarter losses by ShopKo corporate of $8.4 million contributed to the multi-store closing announcement. In addition to the closing of a distribution center in Quincy, Illinois retail stores in Illinois, Indiana, Iowa, Kansas, Kentucky, Nebraska and Missouri were also included with over 2,500 employees being affected.
The Cape store will close sometime in April and will affect 78 employees. Westfield Mall officials said they would be immediately seeking a replacement store for the vacancy. The Venture Store previously occupied the same space. Other mall anchors include Famous-Barr and J.C. Penny's. Reports in recent years indicate that Sears has expressed interest in a location at the regional mall.
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