A South Korean court on Monday declared the bankruptcy of WeMakePrice, marking the end of a failed rehabilitation effort to revive the troubled e-commerce business.
The Seoul Bankruptcy Court ruled WeMakePrice bankrupt, roughly a year and half after the platform filed for court receivership on July 29, 2024, along with its e-commerce affiliate Tmon.
In 2024, WeMakePrice and Tmon struggled with delayed payments due to a liquidity crisis associated with its parent company, Qoo10 Group.
Though WeMakePrice sought to pursue a merger or be acquired during the rehabilitation process, it struggled to find a buyer.
In September, the court terminated the rehabilitation proceedings…