Alphabiz - Homeplus Faces Supplier Withdrawals as Payment Delays Worsen During Court-Supervised Restructuring

Homeplus. (Photo = Homeplus)

[Alpha Biz= Paul Lee] Homeplus, which is currently undergoing court-supervised rehabilitation, is facing mounting pressure from major beauty and food suppliers after failing to make scheduled payments. Industry sources confirmed on December 4 that companies including Samyang Foods and Amorepacific have suspended deliveries due to overdue receivables.

Samyang Foods halted shipments of products such as its flagship “Buldak Ramen” at the end of November, stating it will resume deliveries once “normal trading conditions are restored.” Amorepacific has also stopped supplying new products since August, citing unresolved outstanding payments, though previously delivered items are still being sold at Homeplus stores.

Other suppliers, including LG Household & Health Care, are responding by adjusting order volumes and the number of stores they supply, while monitoring the retailer’s financial situation.

Homeplus recently postponed payments scheduled for December 1 for certain suppliers and franchise operators. The company’s deteriorating cash flow has also resulted in approximately KRW 70 billion in unpaid taxes, including real estate, value-added, local, and property taxes.

These financial constraints are expected to complicate Homeplus’s efforts to secure a buyer. After last month’s failed main bidding round, the retailer has reopened the process and is accepting new acquisition proposals until December 29. Homeplus must finalize its rehabilitation plan before the court-imposed deadline of March 3, 2026.

Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)