Lotte Chilsung, Dongseo, Samyang Suspend Transactions
"Future Supply to Be Discussed"
Homeplus, a major supermarket chain, has filed for corporate rehabilitation (court receivership), leading food suppliers to consecutively halt their deliveries. This is due to growing concerns over unpaid payments, similar to the large-scale unsettled payment incident involving Tmon and Wemakeprice (Timep) last year.
According to the industry on the 6th, food companies such as Lotte Chilsung Beverage, Lotte Wellfood, Dongseo Food, and Samyang Foods have stopped new supply transactions. CJ CheilJedang, Nongshim, and Daesang have not yet stopped deliveries but are monitoring the situation.
A representative from Lotte Chilsung Beverage stated, "We have temporarily suspended deliveries to Homeplus," adding, "Whether to resume deliveries in the future will be discussed with Homeplus."
Some companies, including Ottogi, are considering halting supplies. An Ottogi representative said, "The official letter regarding payment to partner companies from Homeplus has been delayed, so depending on the negotiation status after the weekend, supply may be suspended."
The industry is expressing concerns that this corporate rehabilitation procedure by Homeplus could lead to a recurrence of the 'Timep incident,' where large-scale delays in normal payments to open market sellers occurred. An industry insider explained, "We will review whether to stop deliveries while monitoring the progress of the situation."
The delivery suspension situation is expected to spread further. LG Electronics has already temporarily halted shipments of products supplied to Homeplus. There are 116 LG Electronics Best Shop stores located within Homeplus outlets. Currently, only the remaining inventory inside Homeplus is being sold.
Samsung Electronics is also closely monitoring the situation. There are a total of 25 Samsung Stores inside Homeplus stores. Although normal stock arrivals are continuing for now, they plan to decide on future responses depending on Homeplus's operational status.
On the previous day, Homeplus gift card partners such as Shilla Duty Free, CJ Foodville, and Everland consecutively blocked the use of Homeplus gift cards due to concerns over delayed repayments. Although gift cards are commercial claims and transactions are proceeding normally, distrust toward MBK is growing across the market, increasing fears of potential losses.
Meanwhile, Homeplus stated that it will continue normal store operations separately from the rehabilitation application. In a statement released that day, Homeplus said, "According to the court's decision to commence rehabilitation, general commercial claims incurred before March 4 will be fully repaid sequentially according to a schedule, and from March 4 onward, payments will be made normally based on individual contracts with suppliers," adding, "Currently, some suppliers are requesting payments in advance, causing some delays in negotiations."
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