(Madison) The Wisconsin based retailer ShopKo filed for bankruptcy protections Wednesday. It also announced the closure of 38 stores, including 16 in Wisconsin. Store locations in Beaver Dam, Mayville, Columbus and Watertown were not named among the closures. In a statement, CEO Russ Steinhorst said the increased pressure from competitors and excess debt has forced this step. The company will also be auctioning off its remaining pharmacy business, and converting a number of its optical stores into standalone operations.