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24 clusters · 32 sources · 69 days · First seen · Last updated

Homeplus reopens stores amid sales surge and revised plan

Overview

Following the approval of a 2 trillion-won DIP loan from Meritz Financial Group, Homeplus has begun a phased reopening of 67 stores. The resumption of operations was facilitated by a 200 billion won emergency operating fund loan, supported by Meritz and a personal guarantee from MBK Partners Chairman Kim Byung-joo. To mark the reopening, the retailer launched large-scale discount events and is restructuring layouts to focus on daily necessities and private brand products. Initial post-reopening data from August 13 to August 17 shows a significant revenue surge, with total sales reaching 43.7 billion won—a 191% increase over the 15 billion won earned during a comparable period before the suspension. Daily average sales rose from approximately 3 billion won to 8.7 billion won, while daily average customers increased by nearly 74%. As operations normalize, credit card companies have lifted the suspension of payment settlements. However, the company faces a critical court-mandated deadline of September 4 for the approval of its rehabilitation plan. To increase the likelihood of approval, employee representatives are urging public creditors to agree to a deferred installment repayment plan for approximately 930 billion won in public claims, including unpaid wages and severance; employee consent for these claims is currently above 75%. In a revised rehabilitation plan, Homeplus has delayed its profitability timeline, now projecting it will not achieve operating profits until 2029. To raise capital, the retailer plans to sell 23 company-owned stores, expected to generate approximately 1.42 trillion won by early 2028. This strategy involves selling 19 properties to clear trust-backed debt, leaving roughly 38 stores to serve as collateral for future loans. The company must also manage significant future debt obligations, including 812.1 billion won in public-interest claims due in February 2030 and a major refinancing of 914.3 billion won planned for 2037.

Entities

Homeplus · MBK Partners · Meritz Financial Group · Seoul Rehabilitation Court · Muan

Timeline

  1. 1 day ago

    [BUSINESS] 2 sources
    South Korean government launches support for Homeplus partners

    South Korea is providing targeted financial aid and emergency funds to small businesses and suppliers affected by Homeplus's corporate rehabilitation and store closures.

  2. 3 days ago

    [BUSINESS] 5 sources
    Homeplus crisis causes 55% drop in domestic agricultural sales

    Homeplus's financial crisis has led to a 55% drop in domestic agricultural sales, causing distribution gaps and unpaid debts to farmers and livestock producers in South Korea.

  3. 3 days ago

    [BUSINESS] 2 sources
    Homeplus seeks court approval for rehabilitation plan amid debt restructuring

    Homeplus is pushing for court approval of its rehabilitation plan on September 4, seeking creditor agreement on deferred payments for 930 billion won in claims following a recent surge in store sales.

  4. 7 days ago

    [BUSINESS] 4 sources
    Homeplus unveils revised rehabilitation plan to manage debt

    Homeplus has released a revised rehabilitation plan involving the sale of 23 stores to raise 1.42 trillion won and long-term borrowing to manage debts through 2037.

  5. 9 days ago

    [BUSINESS] 4 sources
    Homeplus reports 191% sales increase following store reopenings

    Homeplus recorded 43.7 billion won in sales during its first five days of reopening 67 stores, a 191% increase over previous figures driven by major food discounts.

  6. 10 days ago

    [BUSINESS] 2 sources
    Homeplus seeks recovery as credit card payments resume

    Homeplus is seeing a recovery in sales and the resumption of credit card settlements, but faces a critical September 4 court deadline to approve its rehabilitation plan and secure a new owner.

  7. 15 days ago

    [BUSINESS] 7 sources
    Homeplus to reopen 67 stores in South Korea on the 13th

    Homeplus will reopen 67 stores in South Korea on the 13th following a temporary shutdown, supported by a 200 billion won emergency fund and featuring large-scale consumer discounts.

  8. 22 days ago

    [BUSINESS] 4 sources
    Homeplus to reopen 67 stores in Seoul after securing 2 trillion‑won emergency loan

    Homeplus secured a 2 trillion‑won DIP loan, enabling the September 13 reopening of 67 Seoul stores, but key tenants like Olive Young and Daiso are pulling out.

  9. about 1 month ago

    [BUSINESS] 2 sources
    Homeplus to reopen stores and revamp format as regulator reviews MBK's role

    Homeplus will reopen 67 stores with $135 million DIP financing, shift to a Trader Joe’s‑style format and close 37 underperforming outlets, while regulators consider sanctions on MBK Partners over its Homeplus‑a

  10. about 1 month ago

    [BUSINESS] 9 sources
    Homeplus court reinstates rehab after 2‑trillion‑won emergency loan

    Seoul court revived Homeplus' corporate rehabilitation after the retailer secured a 2 trillion‑won emergency loan; daily sales have plunged to 27 billion won, many stores are closed, and over 280 000 supplier‑c

  11. about 1 month ago

    [BUSINESS] 2 sources
    Homeplus Receives 2 Trillion‑Won Emergency Funding to Restart Restructuring

    Meritz Financial approved a 2 trillion‑won emergency loan for Homeplus, backed by MBK Partners’ guarantee, enabling the retailer to revive its court‑approved restructuring and reopen stores; politicians demand監

  12. about 1 month ago

    [BUSINESS] 2 sources
    Homeplus Supermarkets Halt Operations Nationwide in South Korea

    Homeplus shut all 67 South Korean stores on 13 July 2026 due to cash‑flow problems, ordering staff out by 11 a.m.; the abrupt closure sparked union protests and prompted limited government aid.

  13. about 1 month ago

    [BUSINESS] 6 sources
    Homeplus secures 2 trillion‑won emergency loan from Meritz and MBK to avert bankruptcy

    Homeplus agreed with MBK and Meritz on a 2 trillion‑won emergency loan, pending board approval, to reverse a court‑ordered shutdown; unions, suppliers and consumers face ongoing challenges.

  14. about 2 months ago

    [BUSINESS] 14 sources
    Homeplus to Temporarily Close All Stores Amid Capital Shortage and Bankruptcy Court Ruling

    Homeplus will temporarily close all stores after a court ended its rehabilitation for failing to raise 200 billion won; the retailer seeks emergency funding to avoid bankruptcy, affecting 12,000 staff and 4,600

  15. about 2 months ago

    [BUSINESS] 2 sources
    Homeplus tenant store funding requires full lender consent

    South Korean banks plan a unanimous‑consent agreement to manage ~3 trn won exposure from Homeplus tenant stores, allowing loan extensions and interest waivers to curb cascading defaults.

  16. about 2 months ago

    [BUSINESS] 2 sources
    Homeplus faces staff exodus and looming bankruptcy with possible store closures in South Korea

    Homeplus in South Korea risks bankruptcy after a court ended its rehabilitation plan, sparking staff shortages, supply disruptions, and the possible closure of up to 67 stores affecting 10,000 jobs.

  17. about 2 months ago

    [POLITICS] 2 sources
    South Korea Democratic Party demands 1 trillion won from MBK, Meritz to rescue Homeplus

    South Korea’s Democratic Party urged MBK Partners and Meritz to furnish 1 trillion won in emergency funding to stop Homeplus collapse, citing risk to 100,000 livelihoods and seeking National Pension Service’s –

  18. about 2 months ago

    [BUSINESS] 2 sources
    South Korean banks offer up to 5 billion won loans to Homeplus suppliers

    Shinhan and KB Kookmin banks each announced up to 5 billion won emergency loans, with interest discounts and repayment deferrals, for Homeplus suppliers facing cash‑flow issues after the retailer’s rehab case.

  19. about 2 months ago

    [BUSINESS] 3 sources
    Homeplus faces bankruptcy after court ends rehabilitation, endangering up to 100,000 jobs

    South Korean court ends Homeplus' rehabilitation, risking bankruptcy, job losses for up to 100,000 people and halting online services; funding dispute continues.

  20. about 2 months ago

    [BUSINESS] 7 sources
    Homeplus' restructuring plan scrapped as court ends rehab process

    South Korean court ends Homeplus' rehab after it fails to raise 2 trillion won; government steps in with wage aid, low‑interest loans and a 4.4 trillion‑won liquidity package for workers and suppliers.

  21. about 2 months ago

    [BUSINESS] 2 sources
    Homeplus restructuring plan faces union protests and court deadline in South Korea

    Homeplus seeks court approval for a revised restructuring plan without the required 2 trillion‑won funding, while unions protest MBK's role and call for government action; the court has extended the decision‑to

  22. about 2 months ago

    [BUSINESS] 3 sources
    Homeplus faces bankruptcy as court demands 20 billion‑won funding plan

    Homeplus risks bankruptcy after a court set a March 30 deadline for a 2 trillion‑won funding plan; creditor Meritz demands a guarantee from shareholder MBK, while 10 k employees seek government aid.

  23. 2 months ago

    [BUSINESS] 2 sources
    Homeplus faces bankruptcy risk as MBK and Meritz clash over rescue funding

    Homeplus’ court‑ordered rehab hinges on a disputed 2 trillion‑won funding plan; MBK seeks Meritz’s DIP loan, Meritz demands guarantees, and failure could lead to liquidation affecting thousands of jobs.

  24. 2 months ago

    [BUSINESS] 3 sources
    Meritz Financial approves 1 trillion‑won DIP loan for Homeplus

    Meritz Financial approved a 1 trillion‑won DIP loan for Homeplus, half of the retailer’s request, pending guarantees from MBK Partners. The limited funding may impede store recovery and supplier payments.

Sources

asiae.co.kr · biz.cafef.vn · biz.heraldcorp.com · cursorinfo.co.il · english.hani.co.kr · europesays.com · folgefonnsenteret.no · h21.hani.co.kr · hani.co.kr · koreaherald.com · koreatimes.co.kr · kyeonggi.com · lubicsszilvi.webnode.hu · m.hani.co.kr · m.imaeil.com · m.koreaherald.com · namdonews.com · news.donga.com · news.heraldcorp.com · newstomato.com · niacouncil.org · saranemag.ir · sateconomy.co.kr · seoul.co.kr · sisajournal.com · socialnews.xyz · socialvalue.kr · stv.seoul.co.kr · tennews.in · womannews.net · yeosunews.net · zdnet.co.kr

This summary has been updated 5 times: see revision history