SEOUL, November 27 (AJP) - The planned sale of Homeplus has stalled after the main auction attracted no bidders, deepening uncertainty over the future of the South Korean hypermarket chain.
Two companies had taken part in the preliminary bidding but both withdrew ahead of the final auction. The main auction closed at 3 p.m. on Wednesday with no proposals submitted.
Sources from Homeplus said on Thursday it will continue to accept offers until Dec. 29, the deadline for filing a rehabilitation plan. The company added that if a qualified buyer emerges, the court may consider extending both the sale timetable and the plan-submission deadline.
* This article, published by Economic Daily, was translated by AI and edited by AJP.
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