Homeplus to revamp stores in Trader Joe's-style reset

Homeplus said Wednesday it will accelerate efforts to normalize operations and complete its restructuring plan after the Seoul Bankruptcy Court decided to extend the retailer’s court-led rehabilitation process through Sept. 4 on the previous day. According to Homeplus, the company will reopen all 67 key stores now under temporary suspension as soon as it receives 200 billion won ($135 million) in debtor-in-possession, or DIP, financing. The retailer added that its online business will also gradu