Shopko Stores Operating Co. Llc /Optical Bus/

GREEN BAY, Wis. (WFRV) — Monarch Alternative Capital LP has announced that they have successfully acquired Shopko Optical and plan to relocate nearly 80 of its current locations housed inside Shopko stores to freestanding locations. In April, Shopko entered a binding term sheet with Shoptikal LLC, an affiliate of Monarch Alternative Capital LP, to acquire the optical business. Under the agreement, Shoptikal LLC intends to purchase Shopko Optical for $8.5 million in cash, plus the assumption of certain liabilities. Shopko’s Chief Executive Officer, Russ Steinhorst says, “We are pleased and encouraged by the interest shown in our optical business. Shopko is excited to partner with Monarch to continue to serve patients and customers in our local communities.” As of now, other qualifying businesses are able to submit competitive bids.