Wisconsin-based Shopko has reached an agreement with a buy to sell its optical business for eight-and-a-half-million dollars cash.
The company had just announced it was selling that business last Thursday, so the agreement came quickly. The buyer is Shoptikal L-L-C, an affiliate of Monarch Alternative Capital. The final agreement and the takeover process still have to be approved by a bankruptcy court. The deal could save as many as 700 jobs at the former Shopko locations.