KRW 200 billion in debtor-in-possession (DIP) emergency operating funds will be deposited into Homeplus, which is undergoing corporate rehabilitation, on the 5th. Homeplus plans a temporary opening on the 7th, followed by an official reopening on the 13th.

Homeplus said in a press release that “As the Seoul Bankruptcy Court has authorized the DIP loan, KRW 200 billion in DIP funds will be received today.” It has been three weeks since Meritz Financial Group approved DIP support for Homeplus on the 16th of last month, when the company stood at a crossroads over possible termination of its rehabilitation plan.

With the DIP funds coming in, Homeplus plans to promptly conclude consultations with suppliers, delivery companies, and others and resume operations at its 67 stores that are currently on temporary closure. It will first open temporarily on the 7th, conduct operational checks and remedial work through the 12th, and then officially open on the 13th.

Since the previous day, some employees at each store have been coming in to prepare for the reopening. Labor and management are also said to be preparing events to invigorate stores in line with the reopening.

Following the resumption of operations, Homeplus plans to operate stores centered on fresh foods, groceries, and private-brand (PB) products. Stores will be downsized to 600~1,000 pyeong and configured as single-story. Homeplus described this as ‘a format similar to Trader Joe in the U.S.’ E-commerce operations will also resume.

The deadline for approval of the Homeplus rehabilitation plan is the 4th of next month. By thenless than a month awayHomeplus must demonstrate cash-generating capacity and show creditors and others its prospects for survival. The court will designate the date for a meeting of interested parties for the rehabilitation plan’s hearing·resolution between the end of this month and the beginning of next month.