Homeplus temporarily closes outlets starting Monday
MBK Partners acquired a 100 percent stake in Homeplus from British retailer Tesco Plc in 2015 for 7.2 trillion won
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Summary
MBK Partners acquired a 100 percent stake in Homeplus from British retailer Tesco Plc in 2015 for 7.2 trillion won. The decision came after the Seoul Bankruptcy Court terminated Homeplus' rehabilitation proceedings on July 3, saying the company had failed to secure at least 200 billion won ($130 million) needed to carry out its self-rescue plan. SEOUL, July 13 (Yonhap) -- Financially troubled discount store chain Homeplus Co. said Monday it has decided to temporarily close its outlets starting Monday due to a lack of operating capital and difficulties in maintaining store operations.
Furthermore, Homeplus has asked its largest creditor, Meritz Financial Group, to provide a 200 billion-won working capital loan, but its request has yet to be accepted. The retailer, wholly owned by private equity firm MBK Partners, has been financially strapped by a prolonged slump in the discount store industry and entered court-led rehabilitation in March 2025.
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MBK Partners acquired a 100 percent stake in Homeplus from British retailer Tesco Plc in 2015 for 7.2 trillion won.
reliability low1/2 sourcesThe decision came after the Seoul Bankruptcy Court terminated Homeplus' rehabilitation proceedings on July 3, saying the company had failed to secure at least 200 billion won ($130 million) needed to carry out its self-rescue plan.
reliability low1/2 sourcesSEOUL, July 13 (Yonhap) -- Financially troubled discount store chain Homeplus Co. said Monday it has decided to temporarily close its outlets starting Monday due to a lack of operating capital and difficulties in maintaining store operations.
reliability low1/2 sourcesHomeplus has asked its largest creditor, Meritz Financial Group, to provide a 200 billion-won working capital loan, but its request has yet to be accepted.
reliability low1/2 sourcesThe retailer, wholly owned by private equity firm MBK Partners, has been financially strapped by a prolonged slump in the discount store industry and entered court-led rehabilitation in March 2025.
reliability low1/2 sources
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