The image depicts the checkout counters at the Homeplus Special Seoul Mokdong branch, provided by Homeplus. On the 4th, Homeplus applied for the commencement of corporate rehabilitation procedures at the Seoul Bankruptcy Court, where a representative inquiry meeting is scheduled to take place.
The Seoul Bankruptcy Court announced that Homeplus’ rehabilitation application was received that day and assigned the case to the Rehabilitation Division 4 (Judge Jeong Joon-young). A representative from the court stated, “The Homeplus rehabilitation case has been filed as a case for the chief judge,” and added, “Given its significance, the procedures will be expedited.” The representative inquiry is set to be held privately at 10 AM on the same day.
Homeplus released a press statement on the same day, explaining that they applied for the commencement of corporate rehabilitation procedures as a proactive measure to address potential financial issues stemming from a credit rating downgrade. A Homeplus representative mentioned, “The credit rating announced on February 28 did not fully reflect many improvements such as increased online and offline sales and bettered debt ratio,” emphasizing that “regardless of the rehabilitation procedure application, all operations, including Homeplus’ hypermarkets, Express, and online channels, continue to run normally.”