Homeplus outlets resume operations after court extends rehabilitation proceedings

Financially troubled discount store chain Homeplus Co. said Wednesday it has resumed operations at all 67 of its outlets nationwide following a court decision to extend its rehabilitation proceedings. Homeplus temporarily closed all 67 outlets on July 13, due to a lack of operating funds after the Seoul Bankruptcy Court terminated its rehabilitation proceedings earlier that month, saying the company had failed to secure at least 200 billion won ($130 million) needed to carry out its self-rescue

By The Korea Herald