Search results for NS Shopping
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.
People
Korea TV Home Shopping Association names Lim Kwang-gi as new chairman
Lim Kwang-gi (임광기), a former SBS editorial writer, has been appointed as the new chairman of the Korea TV Home Shopping Association. The association said on April 27 it finalised the appointment through resolutions by its board of directors and general meeting. Lim\'s term runs for three years from May 6. He previously served in several roles at SBS and later led the National Assembly Broadcasting station for three years from 2019.
