Homeplus Appeals to Creditors for Agreement on Public Bond Repayment

Homeplus is requesting public bondholders to agree to a repayment plan ahead of the approval of its rehabilitation plan on September 4. The company is making a concerted effort to secure this agreement, as the rate of consent from public bondholders is a critical indicator of the plan's feasibility.

On August 24, Homeplus stated that if the agreement rate among public bondholders is low, the rehabilitation court may determine that the plan's feasibility is compromised due to financial burdens, potentially leading to a rejection of the rehabilitation plan. If the plan is not approved, the rehabilitation process could end, resulting in bankruptcy proceedings, which would lower the repayment rate and delay payment timelines for public bondholders.

Wage claims are also included in the public bonds, prompting Homeplus to seek consent from current and former employees regarding severance pay and delayed wages. Reports indicate that the employee agreement rate has surpassed 75%.

The employee representative body, Hanmaeum Council, has also begun efforts to persuade partner companies. In a letter sent to partners, the council expressed, "After reopening, employees have gained hope that rehabilitation is possible. For this hope to be realized, the rehabilitation plan must be approved, and we sincerely apologize, but we need the agreement of our partners on the public bond repayment plan."

Meanwhile, from August 13 to 17, the first five days of Homeplus's reopening, sales totaled 43.7 billion won. This marks a 191% increase compared to sales of 15 billion won during the same weekday period from July 2 to 6, prior to the temporary suspension of operations.