Homeplus' recovery falters as sales slump, buyer search stalls

Homeplus is struggling to recover in South Korea as sales weaken and efforts to find a buyer stall. After reopening all 67 stores on Aug. 13, the retailer’s sales fell to about 30 percent of internal expectations by early October, partly because suppliers demanded upfront payment. The company plans a full-business sale, but no serious bidder has emerged, while hundreds of employees have applied for voluntary retirement.

Homeplus secured emergency financing from Meritz Financial Group after the Seoul Bankruptcy Court terminated its rehabilitation proceedings in July over a 200 billion won funding shortfall.

The retailer recorded 10.63 billion won in sales on its first reopening day and averaged 8.7 billion won daily over the following five days.

Daily sales fell to the 3 billion won range during the Oct. 3-5 holiday period.

Homeplus CEO Joh Ju-yeon said at a parliamentary audit on Oct. 12 that the company was limited to advance payments and cash transactions.

The labor union estimates that 400 to 500 employees applied for voluntary retirement, equivalent to roughly 4 to 5 percent of the workforce.

Published Oct 20, 2026 7:00 am KST

A shopper browses the rice section at a Homeplus store in Seoul, Oct. 11. Yonhap

Homeplus, which narrowly avoided liquidation and resumed operations in August, is struggling to regain its footing as weak sales and stalled takeover efforts cloud its recovery, according to industry officials Monday. The uncertainty has also prompted a wave of voluntary resignations among employees.

A major supermarket chain, Homeplus is currently undergoing court-led rehabilitation after struggling for years with the decline of the country’s hypermarket sector and consumers’ shift to online shopping.

In July, the Seoul Bankruptcy Court briefly terminated the proceedings after the embattled retailer failed to secure the minimum 200 billion won ($150 million) in fresh funding needed to carry out its restructuring plan. Homeplus reversed that outcome only after obtaining emergency financing from Meritz Financial Group, its largest creditor, at the last minute.

The retailer reopened all 67 of its remaining stores nationwide on Aug. 13, hoping to put its recovery back on track. Sales reached 10.63 billion won on the first day, followed by a daily average of 8.7 billion won over the next five days, suggesting an initial rebound.

But that momentum soon faded. By early October, sales had fallen to just about 30 percent of the company’s internal expectations. Daily sales were only in the 3 billion won range over the Oct. 3-5 holiday period.

Disruptions to merchandise supplies have been a major factor behind the decline. Hypermarkets typically receive goods on credit and pay for them later. But mounting unpaid invoices have led suppliers to withdraw those terms, forcing Homeplus to pay upfront before it can stock its shelves.

At a parliamentary audit on Oct. 12, Homeplus CEO Joh Ju-yeon said the company “was now limited to advance payments and cash transactions.”

Sparse shelves and limited inventory, in turn, give shoppers fewer reasons to return, further depressing sales and worsening the retailer’s cash shortage.

A sale of the business, seen as one possible route out of the crisis, also remains uncertain. Homeplus is pursuing a full-business sale that would bundle its headquarters, online operations and all 67 stores. It plans to accept letters of intent through the end of this month, but no potential buyer has emerged as a serious contender.

Hyundai Department Store Group and GS Retail have been mentioned as possible candidates, but both have denied reports that they are considering a bid.

If no buyer comes forward for the business as a whole, Homeplus could instead sell individual stores and other assets, particularly profitable locations and properties with high redevelopment value. But such a piecemeal sale would raise the risk of large-scale job losses.

The uncertainty has already prompted a surge in applications for voluntary retirement. The retailer had originally planned to accept applications through Oct. 22 but closed the program early last Wednesday after demand exceeded expectations. The rush came despite the absence of any additional severance payments or incentives that are typically offered alongside statutory severance pay and outstanding wages.

Although the company did not disclose the official number of applicants, its labor union estimates that 400 to 500 employees applied — equivalent to roughly 4 to 5 percent of the workforce.

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由于销售疲软且寻找买家的努力陷入停滞，韩国零售商Homeplus在韩国的复苏之路举步维艰。8月13日，Homeplus重新开放了全部67家门店，但到10月初，其销售额已跌至内部预期的30%左右，部分原因是供应商要求预付货款。该公司计划进行整体出售，但至今仍未出现合适的竞购者，同时已有数百名员工申请自愿退休。

由于资金缺口高达 2000 亿韩元，首尔破产法院于 7 月终止了 Homeplus 的重组程序。随后，Homeplus 从 Meritz Financial Group 获得了紧急融资。

该零售商在重新开业首日录得 106.3 亿韩元的销售额，并在接下来的五天里平均每天达到 87 亿韩元。

10月3日至5日假期期间，日销售额下降至30亿韩元左右。

Homeplus 首席执行官赵柱妍在 10 月 12 日的国会审计中表示，该公司仅限于预付款和现金交易。

工会估计有 400 至 500 名员工申请自愿退休，约占员工总数的 4% 至 5%。

发布于2026年10月20日 上午7:00（韩国标准时间）

10月11日，一名顾客在首尔一家Homeplus超市的米类区浏览商品。（韩联社）

据业内人士周一透露，Homeplus公司虽然险些破产清算，并于8月恢复运营，但由于销售疲软和收购努力受阻，其复苏之路依然艰难。这种不确定性也引发了一波员工自愿离职潮。

作为一家大型连锁超市，Homeplus 目前正在接受法院主导的重组，此前该公司多年来一直受到该国大型超市行业衰落和消费者转向网上购物的影响。

7月，首尔破产法院曾短暂中止对Homeplus的破产程序，原因是这家陷入困境的零售商未能筹集到至少2000亿韩元（约合1.5亿美元）的新资金以实施其重组计划。Homeplus在最后一刻从其最大债权人Meritz金融集团获得紧急融资后，才推翻了这一结果。

该零售商于8月13日重新开放了全国剩余的全部67家门店，希望重回复苏轨道。首日销售额达到106.3亿韩元，随后五天日均销售额为87亿韩元，表明业绩初步反弹。

但这种增长势头很快消退。到10月初，销售额已降至公司内部预期的30%左右。10月3日至5日假期期间，日均销售额仅为30亿韩元左右。

商品供应中断是导致其业绩下滑的主要原因之一。大型超市通常赊购商品，稍后付款。但不断增加的未付账款导致供应商取消了这种付款方式，迫使Homeplus必须预先付款才能上架商品。

10 月 12 日，在国会的一次审计中，Homeplus 首席执行官 Joh Ju-yeon 表示，该公司“现在仅限于预付款和现金交易”。

货架空空如也、库存有限，反过来又减少了顾客再次光顾的理由，进一步抑制了销售额，加剧了零售商的现金短缺。

出售公司被视为摆脱危机的一种可能途径，但前景仍不明朗。Homeplus 正在寻求整体出售，将包括其总部、线上业务和全部 67 家门店。该公司计划在本月底前接受意向书，但目前尚未出现真正有竞争力的潜在买家。

现代百货集团和GS零售集团都被提及为可能的竞标者，但两家公司都否认了正在考虑竞标的报道。

如果无人愿意整体收购，Homeplus 可以考虑出售单个门店和其他资产，尤其是那些盈利能力强、具有高重建价值的地段和房产。但这种分拆出售的方式会增加大规模裁员的风险。

这种不确定性已经导致自愿退休申请激增。这家零售商原计划接受申请至10月22日，但由于需求超出预期，已于上周三提前关闭了该项目。尽管没有提供通常与法定遣散费和未付工资一同发放的额外遣散费或激励措施，申请热潮依然持续。

虽然该公司没有透露申请人的官方人数，但其工会估计有 400 至 500 名员工申请了该职位——约占员工总数的 4% 至 5%。

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