MBK Partners Invests in Homeplus, Corporate Restructuring Process Begins The second-largest grocery store brand in Korea, Homeplus, has entered corporate restructuring proceedings on the heels of a liquidity crisis. On March 4, the Seoul Bankruptcy Court approved the corporate restructuring that Homeplus had requested. This measure is a direct response to the recent downgrade of the credit rating from A3 to A3-, which would make it difficult to raise funds in the financial market. Homeplus is expected to face serious funding difficulties starting from May due to the credit rating downgrade, despite having refinanced short-term funds of around KRW 700 billion monthly. MBK Partners, Homeplus’ largest shareholder, borrowed […]