Homeplus Express Sale Finalized... Could It Be the First Step Toward Normalization?

[Financial News] Homeplus is moving faster to normalize its rehabilitation process after signing the final sale agreement for Homeplus Express with NS Shopping.
According to the industry on the 23rd, Homeplus signed the final agreement with NS Shopping the previous day for the transfer of the Homeplus Express supermarket business.
Homeplus said Homeplus Express has been recovering since product supply resumed earlier this month, backed by NS Shopping's payment guarantee. A Homeplus official said, "With product supply returning to normal, sales recovered to 50% of pre-rehabilitation levels in just two weeks." Based on that, the company said the remaining business units could also recover customer traffic and sales once operating funds are secured and supply returns to normal.
Homeplus is currently focusing on securing 200 billion won in emergency operating funds needed for restructuring and the normalization of operations. It has again urged Meritz Financial Group to provide emergency funding through debtor-in-possession financing. A Homeplus official said, "If we secure only operating funds through DIP loans, we can complete the ongoing structural reform, build a stable operating base, and normalize operations quickly."
localplace@fnnews.com Kim Hyun-ji Reporter