Homeplus secures W200b lifeline from Meritz to avert liquidation

Homeplus said Thursday that Meritz Financial Group agreed to extend 200 billion won ($135 million) in emergency financing to the cash-strapped retailer, keeping its court-supervised rehabilitation alive with only days left before liquidation. Meritz's board approved the debtor-in-possession loan Thursday, contingent on MBK Partners chair Michael Byungju Kim personally guaranteeing the debt. Meritz also agreed to cooperate with the subsequent approval of Homeplus's rehabilitation plan. The agreem