25.09.19.Today News : Homeplus Halts Closure of 15 Stores Until Buyer Confirmed

Homeplus Halts Closure of 15 Stores Until Buyer Confirmed

📍MBK aims to finalize sale by November 10… Democratic Party TF stresses livelihoods of 300,000 people

Homeplus has decided to suspend the planned closure of 15 stores until a buyer is confirmed. The decision came after major shareholder MBK Partners shifted its stance in talks with ruling party officials. While the move temporarily eases concerns for employees and tenants, the final decision on store closures will depend on the incoming acquirer.

Homeplus, which had announced plans to close 15 stores within the year, has decided to postpone the closure plans until a buyer is confirmed.

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■ MBK Reverses Position in Closed-Door Talks
MBK Partners, operator of Homeplus, told the Democratic Party’s task force that it will not proceed with closing 15 stores until the company’s sale is completed. MBK Chairman Kim Byung-joo personally attended the meeting, assuring that the closures would be put on hold until a buyer is confirmed.

■ Sale Negotiations Underway
MBK is currently negotiating with a potential acquirer and aims to finalize the transaction by November 10. According to MBK, once the new buyer is determined, decisions regarding store closures or continued operations will rest entirely with the acquiring party.

■ Democratic Party: “Livelihoods of 300,000 People at Stake”
On September 19, Democratic Party floor leader Kim Byung-gi visited Homeplus headquarters in Seoul to meet with MBK, Homeplus management, labor union representatives, and store tenants. After the meeting, Kim stated, “We secured a commitment that not only the 15 stores under consideration but also other branches will not be closed until a buyer is confirmed.”

Rep. Yoo Dong-soo, head of the party’s Homeplus TF, stressed, “This is not just a corporate management issue. The livelihoods of around 300,000 people, including employees, suppliers, and their families, are at risk. MBK must present proactive self-rescue measures, and the government should step in to mediate.”

■ Financial Strains and Supply Chain Disruptions
MBK added that certain conditions must be met to fully prevent closures, citing financial constraints and supply chain instability. The company explained that several large suppliers had halted deliveries, creating operational risks. The Ministry of Trade, Industry and Energy has agreed to mediate discussions to stabilize supply.

■ The 15 Stores Facing Closure
The affected stores include Suwon Woncheon, Ansan Gojan, Ilsan, Hwaseong Dongtan, Incheon Gyeyang, Daegu Dongchon, Daejeon Munhwa, Cheonan Sinbang, Jeonju Wansan, Seoul Sihung and Gayang, and five locations in Busan and Ulsan. Collectively, these stores account for annual losses of about 80 billion won, largely due to high rental costs.

1줄 요약 : Homeplus has suspended plans to close 15 stores until a buyer is confirmed, with the final decision to be made by the new owner.