Homeplus, which is undergoing corporate rehabilitation proceedings (court management), is seeking a new owner by reflecting the merger and acquisition (M&A) plan in its rehabilitation plan.
Homeplus announced on the 11th that it plans to submit the rehabilitation plan containing this content to the court by the 10th of next month.
Samil Accounting Corporation is expected to submit a report to the court on the 12th, evaluating the ongoing business value and liquidation value based on Homeplus's assets, liabilities, and cash flow situation.
Homeplus's liabilities amount to 2 trillion won, including 1.2 trillion won borrowed from three Meritz affiliates, while the value of real estate assets, including the value of self-owned stores, is 4.7 trillion won.
Homeplus is working on its final rehabilitation plan, including efforts to adjust rental fees to maintain corporate value. Currently, agreements have been reached to adjust rental fees and contract conditions for 48 out of 68 rental stores, while negotiations with 20 stores are still facing difficulties.
Homeplus stated, "We will do our best to negotiate until the last moment to minimize store closures," adding, "Even if some stores ultimately fail to reach an agreement, the employment of all employees at those stores will be guaranteed."