Homeplus seeks recovery as credit card payments resume

Homeplus has begun normalizing operations following its official reopening on August 13. Credit card companies have decided to lift the suspension of payment settlements to the retailer, as new sales figures show a recovery. On its first day of reopening, Homeplus recorded 10.628 billion won in sales, a 1.2% increase compared to the same period last year, while customer numbers across 67 stores rose by 15%.

Despite this momentum, the retailer faces a critical deadline. A court-mandated deadline of September 4 looms for the approval of its rehabilitation plan. The Seoul Rehabilitation Court is expected to hold a meeting of stakeholders to vote on a revised plan by that date. The outcome will determine whether Homeplus can secure a new owner or face dissolution.

The company is currently seeking permission to proceed with the sale of remaining stores to settle public and rehabilitation claims. While 200 billion won in DIP (Debtor-in-Possession) financing has been injected, labor unions emphasize that finding a ‘white knight’ investor is essential for long-term survival. Financial authorities have indicated they will consider policy financing support through institutions like the Korea Development Bank if a potential acquirer emerges.