FORT COLLINS, CO-Regency Realty, a subsidiary of Regency Centers Corp. of Jacksonville, FL, has purchased three ShopKo stores. The company says the sale was made for "economic considerations," and is not connected to ShopKo's planned acquisition by Golden Hawn Johnson & Morrison Inc., a private equity firm in Minneapolis.
The Shopko stores are in Longmont and Loveland, which opened in 1993and one in Fort Collins that opened in 1994. Together, the stores employ 320 people, who will be offered employment at other ShopKo stores, or will receive severance packages. The stores will be closed and the merchandise liquated over the next 90 days or so.
ShopKo, headquartered in Green Bay, WI has stores throughout the Midwest, Mountain and Pacific Northwest regions. It has 140 ShopKo stores, which sell general merchandise and provide pharmacy and optical services in mid-sized to larger cities.The price Regency paid to ShopKo was not disclosed.
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