Latest Homeplus News & Updates

Seoul, July 13 (IANS) Financially troubled discount store chain Homeplus said on Monday it has decided to temporarily close its outlets, starting Monday, due to a lack of operating capital and difficulties in maintaining store operations.The decision came after the Seoul Bankruptcy Court terminated Homeplus’ rehabilitation proceedings on July 3, saying the company had failed to secure at least 200 billion won (US$130 million) needed to carry out its self-rescue plan.The retailer, wholly owned by…