[EXPLAINER] How $133 mil. funding dispute between MBK, Meritz pushed Homeplus toward collapse
Once Korea’s second-largest discount store operator, Homeplus decided to temporarily close stores beginning Monday after running out of cash, leaving it unable to pay suppliers or even cover basic operating expenses. The retailer now faces an uncertain future after the Seoul Bankruptcy Court terminated its rehabilitation proceedings earlier this month. Without an immediate 200 billion won ($133 million) cash injection, industry observers say it is effectively on the path toward liquidation unless a last-minute rescue materializes. Why 200 billion won? So why has 200 billion won become the figure that could determine Homeplus’ fate? The number represents the minimum amount the court said the company needed to carry out its restructuring plan. After years of struggling with the decline of Korea’s hypermarket sector and consumers’ shift to online shopping, Homeplus — owned by private equity firm MBK Partners — initially sought a buyer. But no deal materialized. One hurdle was an accounting assessment showing that the company’s liquidation value was more than 1 trillion won higher
7/13/2026 12:37:03 AM