Homeplus Co. decided to suspend operations at a total of five stores through the 31st of next month.
According to the retail industry on the 30th, Homeplus Co. decided to end operations at five stores—Gyesan, Siheung, Ansan Gojan, Cheonan Sinbang and Dongchon—at the end of January next year. Earlier, on the 28th, Homeplus Co. suspended operations at five stores—Gayang, Jangnim, Ilsan, Woncheon and Ulsan Buk-gu.
Homeplus Co.'s suspension was included in the rehabilitation plan submitted to the Seoul Bankruptcy Court the previous day. The industry expects Homeplus Co. to streamline as many as 41 stores over the next six years, focusing on leased locations.
Homeplus Co. sought to close a total of 15 stores, including the locations in question, in August, but put the plan on hold in September on the condition of adjusting transaction terms. However, as its cash situation deteriorated, the company moved again to restructure its store network.
Even if Homeplus Co. closes its grocery sections, it plans to allow other tenant businesses to continue operating until they transfer if they wish.