Homeplus has demanded the immediate withdrawal of a decision by some card companies to suspend payments to its offline stores, calling the move unjust.
On July 6, Homeplus issued a statement revealing that it received notices from Hyundai Card and Samsung Card regarding the termination of their partnership for Homeplus online mall points and the suspension of payments to offline stores due to outstanding debts and canceled sales.
Homeplus emphasized that the court's decision to terminate the restructuring process has not yet been finalized. The termination will only take effect once confirmed, and an appeal can be filed within 14 days from the announcement, meaning the restructuring process is still in place.
The company argued that the card companies' notification to end the online mall points partnership based on the restructuring termination is ineffective as it does not meet the necessary conditions.
Homeplus also strongly opposed the suspension of payments to offline stores, stating that purchases on credit are not possible at physical locations, and that the online mall has been unable to process orders for three days due to a halt in operations. In this context, it is difficult to understand the rationale for withholding payments to offline stores based on outstanding debts and canceled sales.
A Homeplus representative stated, "If the card companies block payment collections, we cannot operate. While we continue to hold onto hope despite the court's decision to terminate the restructuring process, we must not allow such unreasonable actions to undermine our efforts to recover." The company has called on the card companies to immediately retract their decisions.
Meanwhile, Homeplus must secure a funding plan of 200 billion won within approximately two weeks and file an appeal. If funding and the appeal are not completed by the deadline, the court's decision to terminate the restructuring process will be finalized, leading Homeplus to enter liquidation proceedings.
* This article has been translated by AI.
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