Search results for Homeplus Express
Industry
Homeplus to suspend operations at 37 stores from May 10 as survival hinges on restructuring plan approval
Homeplus, which is undergoing corporate rehabilitation proceedings, is launching a second round of restructuring by temporarily suspending operations at 37 low-contribution hypermarket stores from May 10 to July 3. It signed a sale contract for its Homeplus Express business with NS Shopping, but said the sale alone is insufficient to secure operating funds and normalise remaining units. Homeplus urged its largest creditor, Meritz Financial Group, to provide bridge and DIP loans.
General News
Court extends deadline for Homeplus rehabilitation plan approval to July 3
The Seoul Rehabilitation Court has extended the deadline for approval of Homeplus\' rehabilitation plan to July 3, aiming to reflect the outcome of the ongoing sale of its Homeplus Express unit and improve the plan\'s feasibility. The court said the sale is substantially under way, with a preferred bidder selected and a share transfer agreement expected. It also cited plans to secure additional emergency operating funds through DIP financing after the contract is signed.
Industry
Homeplus Express bid takes new turn as Mega MGC Coffee operator emerges
The sale process for Homeplus\' SSM chain Homeplus Express has entered a new phase, with two buyers submitting letters of intent, industry sources said. Mega MGC Coffee operator MGC Global has also been mentioned as a potential bidder. Homeplus has not disclosed participants or terms, and additional submissions may still be possible. The company has highlighted Express as a quick-commerce hub, citing 293 stores and sales growth and EBITDA figures over four years.
