Homeplus to Close 37 Unviable Stores as Part of Court-Led Rehabilitation
Homeplus Co. notified its labor union on June 4 that it will permanently shut 37 of its 104 stores. The closures follow the May sale of its Homeplus Express supermarket business.
citizen.co.zaHomeplus Co. will permanently close 37 of its 104 stores, a step the company announced to its labor union on June 4. Operations at those locations have been suspended since May after the retailer sold its supermarket business, Homeplus Express, to NS Shopping Co.
Around 3,500 employees work at the 37 stores. Industry sources said the closures are likely to leave those workers jobless. Insiders added that about 1,500 managerial positions will likely be subject to voluntary retirement.
The company has operated under court-led rehabilitation proceedings that began in March 2025. It became financially strained after a prolonged slump in the discount-store sector. 9 billion.
The private-equity firm remains the owner. A closure notice was posted on the entrance of a Homeplus store in southern Seoul. Yonhap photographed the notice on May 10.
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