Homeplus, sales increase by 30% compared to target... Separate sale procedure in case of failure to complete sale

(Seoul = Yonhap News) Reporter Jeong Soo-yeon = There are predictions that Homeplus, which is experiencing sluggish sales, will eventually take the step of selling off the large supermarket if it does not find a business operator to take over the entire large supermarket.

According to the distribution industry on the 11th, Homeplus' sales at the beginning of this month were only increasing by about 30% of the target.

By mid-September, Homeplus had achieved only 40% of its original sales target, but it had fallen further. It is known that during the 3rd to 5th days, which were holidays, daily sales were only around 3 billion won.

Compared to sales of 10.628 billion won on August 13, the first day of reopening, the decline is clear.

At the beginning of Homeplus' reopening, there was a 'cheer shopping' craze, but it seems to have slowed down recently. In addition, large stores located in Homeplus, such as Olive Young and Daiso, are also gradually withdrawing, which appears to be reducing customer attraction.

Amid sluggish sales, the company began accepting 'voluntary retirement without consolation money' on the condition of paying employees' overdue wages, Chuseok bonuses, and severance pay as normal.

Homeplus is pursuing mergers and acquisitions (M&A) to transfer its headquarters, including its 67 self-owned hypermarkets and the supermarket business division, through a business transfer.

Homeplus, which is undergoing corporate rehabilitation procedures, is in a situation where survival on its own is virtually impossible without an inflow of external funds through M&A, and an investment guide was sent to potential acquisition candidates through Samil Accounting Corporation, the sales manager.

We plan to find a buyer willing to take over by the end of October, but have not been able to find one so far.

Given this situation, there are predictions that if no one willing to acquire the company is found, the company will go through the process of being separated and sold.

Currently, Homeplus is pursuing a 'whole sale' to sell its headquarters, including large supermarkets. If the sale is not easy, it will split stores with business potential and hand them over to other distribution companies, or separately dispose of assets with high real estate utilization value such as development and lease.

Even for companies that cannot afford to take over the entire business, the possibility of sale can increase as opportunities arise, but if individual stores begin to be sold, there is a high possibility that employment will become unstable due to mass unemployment.

The number of Homeplus employees reached 9,121 based on national pension subscribers in September.

A Homeplus official said, “Both the company and the union know that they can only survive if they ultimately complete an M&A,” and added, “If no one willing to take over appears, a separate sale could be an alternative.”

The Homeplus branch of the supermarket union issued a statement saying, “We will keep our promise of cooperation to complete the M&A,” and added, “The government must take the lead in finding a buyer.”