Shopko could file for bankruptcy protection from creditors as soon as next week, according to a pharmaceutical drug supplier that says the retailer owes it $67 million, the Green Bay (Wis.) Press Gazette. Jeff Garfinkle, an attorney for San Francisco-based McKesson Corp., said during a hearing yesterday in Brown County, Wis., Circuit Court, that Shopko is expected to file for bankruptcy on Jan. 15. The companies were in court for a hearing on McKesson's request for a restraining order to keep Shopko from selling medications it supplied the Ashwaubenon-based retailer. McKesson claims it has provided Shopko with $67 million in drugs since Nov. 11, but has not been paid since early December. McKesson's lawyers argued the company's ability to recoup that debt would be impaired if the Ashwaubenon-based retailer seeks protection from creditors under chapter 11. Read more.
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