[Alpha Biz= Kim Jisun] NS Shopping, an affiliate of Harim Group, has agreed to acquire the supermarket division “Homeplus Express” from Homeplus, which is currently undergoing corporate rehabilitation.

According to the companies on May 7, the deal was approved by the Seoul Bankruptcy Court, and the two sides signed a business transfer agreement. Under the terms, NS Shopping will assume part of Homeplus Express’s debt, while Homeplus will receive approximately KRW 120.6 billion in cash.

Homeplus Express currently holds total assets of around KRW 317 billion and net assets of approximately KRW 146 billion. The proceeds from the deal are expected to be used to pay overdue employee wages and settle outstanding payments to suppliers.

The transaction is seen as a key step toward normalizing Homeplus’s operations, while Harim Group gains a foothold in offline retail distribution channels.

Homeplus stated, “The sale of Homeplus Express marks a meaningful milestone in our restructuring process,” but noted that the cash proceeds will not be received for another two months. “We still require interim operating funds and additional liquidity to execute our rehabilitation plan,” the company added.

Homeplus has reportedly requested emergency funding support from its largest creditor, Meritz Financial Group.

 

 

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