TWIN FALLS, Idaho (KLIX) The Shopko in Twin Falls is not on the list of stores set to close as the company announced plans to restructure and enter Chapter 11 bankruptcy.

The company announced plans this morning to close 38 stores that serve the Central, Western and Pacific Northwest regions of the country; two stores in Boise and one in Nampa are on the list.

Shopko says it is wanting to restructure because of excess debt and mounting competitive pressures. Funding has been secured to maintain current levels of service to both customers and employees.

During the process the company also plans to auction off its pharmacy business and relocate more than 20 Optical centers to stand-alone operations.