Shoppers visit a Homeplus store in Seoul, Sunday. Yonhap
Financially troubled discount store chain Homeplus said Wednesday it has resumed operations at all 67 of its outlets nationwide following a court decision to extend its rehabilitation proceedings.
Homeplus temporarily closed all 67 outlets on July 13, due to a lack of operating funds after the Seoul Bankruptcy Court terminated its rehabilitation proceedings earlier that month, saying the company had failed to secure at least 200 billion won ($130 million) needed to carry out its self-rescue plan.
The resumption came as the court overturned its earlier decision on July 21 and extended the proceedings until Sept. 4 after the company filed an appeal.
The retailer, wholly owned by private equity firm MBK Partners, has been financially strained by a prolonged downturn in the discount store industry and entered court-led rehabilitation proceedings in March 2025.
