TMON Temporarily Postpones Reopening to Focus on Completion of Corporate Rehabilitation Process

Postponement of the Scheduled Reopening on August 11

E-commerce platform TMON announced on August 6 that it will temporarily postpone its scheduled reopening, which was set for August 11, in order to focus on the final conclusion of the court's corporate rehabilitation proceedings.

TMON made this decision based on the judgment that the final conclusion of the corporate rehabilitation process is necessary to provide stable services. Currently, TMON requires court approval for major decision-making processes until the corporate rehabilitation is formally concluded. As various contract procedures and active business activities required for resuming operations are restricted under the current circumstances, the company appears to have postponed the reopening until after the court officially ends the corporate rehabilitation process.

TMON recently obtained court approval for its rehabilitation plan and has been preparing for the reopening together with Oasis Market, which has been selected as the new acquirer. The company is undertaking a comprehensive overhaul of its existing business processes and corporate culture.

A TMON representative stated, "We are faithfully carrying out the court's rehabilitation procedures and are now approaching the conclusion of the process," adding, "Oasis Market, which has taken on the acquisition in good faith, and the sellers who have suffered losses but are hoping for a comeback, will join forces to do their utmost to normalize TMON."