PRESS RELEASE: State Treasurer Sarah Godlewski Calls on Kohl’s Corporation to Reject Any Proposal that Puts 110,00 Employees At Risk

MADISON, Wis. — Today, Wisconsin State Treasurer Sarah Godlewski sent a letter to Kohl’s Corporation urging its Board of Directors to thoroughly vet and consider any unsolicited proposals for buyouts that Kohl's Corporation has received. Kohl’s is currently considering several offers from out-of-state investors, many of which have a reputation of mismanaging and bankrupting purchased companies and leaving hardworking employees jobless.

“Kohl’s has an obligation to proceed with a plan that best suits the workers and communities that depend on the company for employment and economic security,” said Treasurer Godlewski. “As State Treasurer, I have an economic interest in ensuring these offers protect working Wisconsinites. Not only is this the right thing to do, it is the fiscally sound decision.”

Kohl’s isn’t the first Wisconsin company to be targeted by out-of-state investors — Shopko was purchased by Sun Capital Partners in 2005, which liquidated the company after filing for bankruptcy. The chain employed around 14,000 in 360 stores across the country. In 2020, the Treasurer joined Senator Tammy Baldwin, former employees, and local leaders to discuss the impact of the bankruptcy on the nearly 2,500 Wisconsin-based employees.

See the full letter here.