Shoppers are seen inside a Homeplus store in Seoul, Sept. 2. Yonhap
Homeplus, which had been on the brink of liquidation, cleared a major legal hurdle with the court’s approval of its rehabilitation plan earlier this month. But while finding a new owner to continue the business is essential to Homeplus’ long-term recovery, it remains uncertain whether the company can attract a buyer given its substantial liabilities, labor-related challenges and a structural slump in traditional retail, industry officials said Monday.
The decision by the Seoul Bankruptcy Court on Sept. 2, following a creditors’ meeting, formally allowed the retailer, controlled by private equity firm MBK Partners, to carry out the debt repayment and restructuring…