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Photo = Homeplus |
[Alpha Biz= Kim Jisun] SEOUL, South Korea – June 11, 2025 — South Korea’s second-largest hypermarket chain, Homeplus, announced plans to incorporate a merger and acquisition (M&A) strategy into its forthcoming rehabilitation plan, marking 100 days since entering court receivership.
Homeplus stated on Tuesday that it will submit the revised rehabilitation plan to the court by July 10. The plan will include debt repayment measures, improved cash flow strategies, and now a roadmap for seeking a new owner.
Accounting firm Samil PwC, which has been tasked with conducting due diligence, will submit a valuation report on June 12, assessing Homeplus’s going-concern value versus liquidation value based on current assets, liabilities, and cash flow.
If the report determines that the company’s going-concern value is higher, Homeplus will use this as the basis to finalize its court-approved rehabilitation plan.
While Homeplus has thus far focused on stabilizing operations and has refrained from initiating pre-approval M&A, it now intends to include M&A as a core strategy within the plan. Once the court approves the rehabilitation plan, major shareholder MBK Partners, a private equity firm, is expected to formally begin seeking a buyer.
MBK Partners acquired Homeplus in 2015, but deteriorating market conditions and declining performance have hampered efforts to exit the investment. A previous attempt to sell off the Homeplus Express supermarket division — suspended after the court initiated receivership — may also be resumed.
Following submission of the plan by the July 10 deadline, the court will hold a creditors’ meeting to determine whether to approve the proposed course of action.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
