Shopko Reaches Deal To Sell Optical Business

Ashwaubenon based Shopko has reached an agreement with a buyer to sell its optical business for $8.5 million 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.