Closure of Gyesan, Siheung, Ansan Gojan, Cheonan Sinbang, and Dongchon Stores
Homeplus, which is currently undergoing corporate rehabilitation proceedings, is expanding its store restructuring due to ongoing financial difficulties. After closing five locations this month, the company will shut down an additional five stores next month, bringing the total number of stores closed over two months to ten.
According to industry sources on December 30, Homeplus has decided to suspend operations at five stores-Gyesan, Siheung, Ansan Gojan, Cheonan Sinbang, and Dongchon-by the end of January next year. It is reported that this plan to halt operations was also included in the rehabilitation plan submitted to the Seoul Bankruptcy Court the previous day.
On December 28, Homeplus also suspended operations at five other stores: Gayang, Jangnim, Ilsan, Woncheon, and Ulsan Bukgu.
Previously, in August, Homeplus had planned to close 15 stores, including these locations, but postponed the closures in September on the condition of relaxed transaction terms. However, as the financial situation continued to deteriorate, the company is once again moving forward with suspending store operations.
A Homeplus representative stated, "Because measures such as relaxed transaction terms from suppliers and normalization of order volumes have not materialized, we have decided to suspend operations until the end of January. This is part of restructuring efforts to improve our financial situation."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
