Key facts
- Homeplus Co. has resumed operations at all 67 of its nationwide outlets.
- The company had temporarily closed all outlets on July 13 due to a lack of operating funds.
- The Seoul Bankruptcy Court had previously terminated Homeplus's rehabilitation proceedings.
- The court extended the proceedings until September 4 after Homeplus filed an appeal.
- Homeplus is wholly owned by private equity firm MBK Partners.
Homeplus Co., a financially troubled discount store chain, has resumed operations at all 67 of its outlets nationwide. This follows a Seoul Bankruptcy Court decision on July 21 to extend its rehabilitation proceedings until September 4, overturning an earlier termination of the process. The company had temporarily closed all its outlets on July 13 due to a lack of operating funds after the court initially terminated its self-rescue plan, stating it failed to secure the necessary 200 billion won (US$130 million).
Homeplus entered court-led rehabilitation proceedings in March 2025, facing financial strain from a prolonged downturn in the discount store industry. The retailer is wholly owned by private equity firm MBK Partners, which acquired a 100 percent stake from British retailer Tesco Plc in 2015 for 7.2 trillion won. Previously, Homeplus operated 104 outlets, but 37 are no longer in operation.