Homeplus Co., which is undergoing rehabilitation proceedings, has decided to end operations at its Jamsil store and Incheon Sungui store. The specific timing for the shutdown has not yet been set.
According to the industry on the 23rd, Homeplus Co. confirmed the closures of the Jamsil store and Incheon Sungui store through an internal notice the previous day. As leased locations, the move follows the expiration of their lease terms and ongoing operating losses.
However, neither store will close immediately within one to two months. Considering the exit procedures, it is expected to take from several months to about one year before operations actually end.
With this decision, the number of stores closed after Homeplus Co. began its rehabilitation process will increase to 19. At the end of this month, operations will end at five locations: Seoul Siheung, Gyeonggi Ansan Gojan, Incheon Gyesan, Cheonan Sinbang in South Chungcheong, and Daegu Dongchon.
Recently, Homeplus Co. decided to suspend operations at seven stores: Munhwa, Busan Gamman, Ulsan Namgu, Jeonju Wansan, Hwaseong Dongtan, Cheonan, and Jochiwon. In December last year, it suspended operations at five locations: Seoul Gayang, Gyeonggi Ilsan, Suwon Woncheon, Busan Jangnim, and Ulsan Buk-gu.
For the time being, Homeplus Co.'s store restructuring is expected to continue. The rehabilitation plan the company submitted to the Seoul Bankruptcy Court includes ending operations at 41 loss-making stores over the next six years.