"Running out of operating funds," Homeplus to temporarily close all stores starting today (combined)

[Financial News] Homeplus will begin temporary closures of its headquarters and large-format stores starting on the 13th, citing a depletion of operating funds and difficulties in maintaining facilities. However, the mall division will continue operating if tenants wish to remain open.
Homeplus said on the day, "We have exhausted all operating funds, and it is difficult to cover even basic store operating costs such as utility bills, let alone pay for merchandise," adding, "We can no longer operate stores normally, so we will temporarily close our headquarters and large-format stores from the 13th until the situation changes in order to maintain security and safety."
The company said the mall division will continue to operate normally if tenants want to keep business going. Homeplus also explained that it will fully strengthen safety management at malls that remain open to prevent accidents.
Earlier, the Seoul Bankruptcy Court decided on the 3rd to terminate Homeplus' rehabilitation proceedings. However, it said it could reconsider whether to extend the process if the company submits a plan to secure 200 billion won in emergency operating funds by the 20th.
Homeplus said it has again asked Meritz Financial Group Inc. for a 200 billion won operating loan, but Meritz has not accepted the request so far.
Homeplus plans to decide whether to resume operations at its large-format stores after reviewing progress on securing funds and the court's final decision by the 20th.
clean@fnnews.com Lee Jeong-hwa Reporter