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Seoul Court Cancels HomePlus Restructuring Termination on July 22, Extends Process to September 4

2026-07-22 00:37:10

On July 22, Seoul Rehabilitation Court cancelled its decision to terminate HomePlus's restructuring proceedings and extended the process until September 4, according to company statement. HomePlus plans to reopen all 67 temporarily closed core stores once emergency operating funds (DIP) are received. The retailer will prioritize restocking fast-moving consumer goods to improve cash flow, while processing supplier payments, delayed employee wages, and utility costs from the incoming loan. Thirty-seven underperforming stores will remain closed and be shut during the remaining restructuring period. The company aims to complete structural reforms and initiate asset sale proceedings within the extended timeframe.

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