Homeplus court reinstates rehab after 2‑trillion‑won emergency loan

Seoul's bankruptcy court reversed its earlier decision to terminate Homeplus' corporate rehabilitation, extending the plan‑approval deadline to 4 September. The reversal followed the retailer's securing of a 2 trillion‑won emergency DIP loan from Meritz Financial Group.

Homeplus' daily revenue has collapsed from 238 billion won in March 2023 to just 27 billion won in July 2024, and the number of operating stores fell from 126 to 67, with many temporarily closed. Liquidity stands at about 207 billion won while unpaid public‑interest bonds total roughly 9.3 trillion won.

The distress has spilled to suppliers: more than 280 000 workers at partner firms have lost employment‑insurance coverage, and over 38 000 have applied for unemployment benefits. The labour ministry is providing counselling and financial assistance to the affected suppliers. Despite the emergency funding, analysts say Homeplus' revival remains uncertain.