Shopko will wind down retail operations and close all of its remaining stores following a liquidation process, the company announced Monday.

Michelle Hansen, the company's public relations manager, confirmed the statement to K2 Radio News. She said that the liquidation process is expected to take 10-12 weeks.

"This is not the outcome that we had hoped for when we started our restructuring efforts," CEO Russ Steinhorst said in the company's announcement. "We want to thank all of our teammates for their hard work and dedication during their time at Shopko."

The company had previously contemplated an auction. Having been unable to find a buyer for its go-forward business as a going concern, the company will not hold that auction.

The liquidation process will be overseen by Gordon Brothers.

Shopko is evaluating strategic options for its optical business, per the statement.

In Wyoming, Shopko still has Hometown stores in Afton, Buffalo, Douglas, Newcastle, Powell, Torrington and Wheatland.