Homeplus Hypermarket Chain in South Korea Temporarily Closes Stores Due to Cash Shortage

(Central News Agency, Seoul, July 13 —综合 foreign media reports) Homeplus, a South Korean hypermarket chain陷入 financial difficulties, announced today that it will temporarily close all its stores starting today due to a shortage of operating capital and the difficulty of maintaining store operations.

According to Yonhap News Agency, this decision follows the Seoul Bankruptcy Court's termination on July 3 of Homeplus's corporate rehabilitation process, citing the company's failure to raise at least 2 trillion Korean won (approximately NT$4.5 billion) required to execute its self-rescue plan.

Homeplus is wholly owned by the private equity firm MBK Partners. The company fell into financial distress due to the prolonged downturn in the hypermarket industry and entered court-led rehabilitation in March 2025.

Homeplus has requested a 2 trillion won operating capital loan from its largest creditor, Meritz Financial Group, but this request has not yet been approved.

A company executive said, "Most of our operating capital has been completely depleted, making it impossible for us to pay suppliers or cover the expenses necessary to maintain store operations."

He added, "To ensure safety, Homeplus headquarters and all hypermarkets will suspend operations starting today until the situation changes."

MBK Partners acquired 100% of Homeplus from British retailer Tesco Plc in 2015 for 7.2 trillion Korean won. (Compiled by: Zhang Xiaowen) 1150713