Walgreens Boots Alliance, CVS Health and Rite Aid are among the winning bidders for prescription files and related pharmacy assets auctioned off from 120 Shopko locations as part of the general merchandise retailer’s financial restructuring.
Shopko is exiting the pharmacy business as part of a turnaround plan announced earlier this month by the bankrupt Green Bay, Wis.-based retailer. More than 20 bidders were named in a filing in U.S. Bankruptcy Court, which could approve the asset sales at a hearing scheduled for Monday.
“Purchase agreements have been signed, or are in process, for the pharmacy assets at 120 locations, which are expected to generate proceeds of approximately $52 million for the debtors and their estates,” a Shopko spokesman said Saturday.
Walgreens was the successful bidder for pharmacy assets from 63 Shopko locations . “We are pleased with the auction results and pending final approvals of the bankruptcy court look forward to welcoming patients to our pharmacies,” Walgreens said Saturday in a statement.
Other successful bidders named include CVS, Rite Aid and grocers Albertsons and Kroger as well as several regional and community pharmacy and grocery store owners. The pharmacies Shopko put up for auction are “a mix of ones inside the stores and freestanding express-type locations,” Shopko said earlier this month.
Date: January 31, 2019