Rehabilitation plan filed, court and creditors endorse cash injection Homeplus submitted a rehabilitation plan to the Seoul Bankruptcy Court last month, encountering no objections from creditors and receiving a positive stance from the court and Meritz Securities, which urged labor unions to cooperate for the retailer’s survival [1][2]. The plan centers on restructuring the business and pursuing an M&A route to secure a new owner once court approval is obtained [1][2].

Emergency funding request anchored by MBK and Meritz contributions The company seeks 300 billion won in emergency operating funds to stabilize cash flow [1][2]. MBK Partners and Meritz Securities each intend to inject 100 billion won, while an additional 100 billion won in loans is being pursued from state lenders such as the Korea Development Bank [1][2]. MBK has already pledged 300 billion won in support and stands ready to add another 200 billion won if a buyer emerges [1].

Operational cuts follow steep sales drop Co‑CEO Joh Joo‑yun reported that product volumes at Homeplus outlets have nearly halved, intensifying the need for immediate cash support [1][2]. To improve liquidity, the plan calls for closing 51 of the retailer’s 117 stores over six years [2]. The closures are part of a broader self‑help strategy that also includes offloading non‑core units and relocating workers [1].

Ownership background and buyer interest remain uncertain MBK Partners acquired Homeplus from Tesco in 2015 for 7.2 trillion won and has been a key financial backer throughout the crisis [1][2]. Letters of intent were submitted in October by Harex InfoTech and SnoMad, but neither company submitted a bid in the auction that concluded on November 26, leaving the search for a new owner unresolved [1][2].