[REVISION HISTORY]

Homeplus reopens stores amid sales surge and revised plan

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2026-08-25 03:11 UTC → 2026-08-25 15:45 UTC · added ~~removed~~

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.

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