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…
Latest MBK Partners News & Updates
Seoul, Jan 11 (IANS) The chairman of private equity firm MBK Partners, Kim Byung-ju, and three other senior executives, were set to face a hearing this week on whether to issue arrest warrants for them over questionable sales of short-term bond of troubled retailer Homeplus Co.The Seoul Central District Court was scheduled to hold the hearing on Tuesday after prosecutors sought arrest warrants for Kim and other senior executives, including a co-chief executive of Homeplus, on charges of fraud an…