Folks store at a Homeplus retailer in Seoul, Feb. 28, on this picture offered by Homeplus. Yonhap
Homeplus, a reduction retailer chain in Korea, stated Tuesday it has filed for company rehabilitation with a Seoul court docket after its credit standing declined amid liquidity worries.
Homeplus filed for the court-led rehabilitation program with the Seoul Chapter Courtroom after its company credit standing plunged final month.
„We’ve determined to file for the rehabilitation program as there existed a risk of a short-term liquidity disaster. This transfer is a part of our preemptive efforts to keep away from a liquidity disaster,“ a Homeplus official stated.
The official argued the corporate’s improved debt-to-equity ratio and elevated gross sales on on-line and offline shops weren’t mirrored within the credit standing analysis final month.
Homeplus‘ shops are in regular operation throughout the nation regardless of its submitting for the rehabilitation program. (Yonhap)
