Interpark Commerce seeks debt restructuring following TMON, WeMakePrice


Interpark Commerce, the e-commerce company, has followed the lead of two similar companies, TMON and WeMakePrice, by applying for a debt restructuring program with the Seoul Bankruptcy Court. This request for an autonomous restructuring support (ARS) program comes as the company faces a severe liquidity crisis, following the default on vendor payments by its sister companies. All three e-commerce companies, which are part of Qoo10, are now awaiting the court's decision on whether they will be placed under court-led debt restructuring. Interpark Commerce is striving to minimize damage to its vendors and customers and is in discussions with potential investors regarding strategic investment and a potential sale of the company in order to address the situation. As of now, Interpark Commerce still needs to settle approximately 55 billion won in sales proceeds, with an estimated 50,000 creditors, including sellers. The company's monthly transaction volume is around one-sixth of TMON's and one-fourth of WeMakePrice's, and its financial records from last year show sales of 34.2 billion won with an operating loss of 15.7 billion won.


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