It was Europe's third largest: Packaging industry giant declares bankruptcy

Multipak Ambalaj, whose request for a concordat was rejected last year, has declared bankruptcy following a decision by the İzmir 2nd Commercial Court of First Instance. The court announced that creditors may intervene in the case or file an objection within 15 days from the date of the announcement. The company's bankruptcy has led to the layoff of many employees.

Since 2007, Multipak was known for its eco-friendly packaging products as the first company in Turkey to hold the Nordic Swan Ecolabel. Offering a wide range of products such as cardboard plates, cups, and baking containers, the company had made a difference in the sector with its nature-friendly production approach.

Founded in 1996, Multipak Ambalaj was known as one of the largest packaging manufacturers in Turkey and the third largest in Europe. Holding a strong position in both local and international markets, the company stood out with its high-quality cardboard packaging products.

The court's decision stated, "Due to the bankruptcy case heard between the plaintiff Aydın Uçkan and the defendant Multipak Ambalaj ve Gıda Sanayi Ticaret A.Ş., it is hereby announced that creditors may intervene in the case or object within 15 days from the announcement of the bankruptcy request, asserting that there is no situation requiring bankruptcy."

News Source: 12punto