Homeplus: "Will Resume Hypermarket Operations After Consulting with Partners"

Homeplus stated, "If our immediate appeal is accepted and the rehabilitation process continues, we plan to establish a schedule for resuming operations at our hypermarkets currently under temporary closure after consulting with our partner companies."

In a statement released today (July 16), Homeplus addressed the decision by Meritz Financial Group to provide 200 billion KRW in debtor-in-possession (DIP) financing, noting, "It is significant in that a consensus has been formed among key stakeholders to continue the rehabilitation process."

The company further explained, "The labor union, MBK Partners, and Meritz have agreed to continue the rehabilitation process based on mutual growth and compromise. The hypermarket union and the general union have agreed to cooperate to minimize the company's financial burden during the process of closing 37 stores."

Accordingly, the Homeplus labor union plans to pursue measures to alleviate the company's financial burden, such as yielding a portion of severance pay and performance bonuses, following internal deliberations.

Homeplus intends to file an immediate appeal with the Seoul Bankruptcy Court on the 20th.

Once the court's approval is granted, the necessary procedures for the DIP loan execution are completed, and the major creditors agree to the rehabilitation plan, the emergency operating funds will be disbursed.
※ Please note: This article was translated by AI and may contain errors.