Major company exporting to 34 countries faces bankruptcy

Prolift Asansör Sanayi ve Ticaret A.Ş., one of Turkey's significant elevator equipment manufacturers, has applied for legal protection due to financial difficulties and requested a temporary injunction. The Bursa 1st Commercial Court of First Instance reviewed the application from the company and its subsidiaries and ruled to suspend enforcement proceedings for 3 months, effective from January 12, 2026.

Founded in Giresun in 2002, Prolift achieved a major breakthrough by moving its factory to Nilüfer, the industrial hub of Bursa, as its business volume grew. Thanks to its 16,000-square-meter modern facility and innovative investments, the company increased its annual production capacity 16-fold to 160,000 doors, becoming one of Turkey's leading firms in this field. With a wide product portfolio, Prolift's production reached 34 countries as of 2018, and the company expanded a significant export network, particularly in Europe, the Middle East, Asia, and Africa.

Following the economic strain, the Bursa 1st Commercial Court of First Instance accepted the requests of Prolift Asansör and Prolift Global Dış Ticaret A.Ş., as well as executives Bahtiyar Karakoç and Vildan Karakoç. With this decision, all enforcement proceedings initiated against the companies have been suspended, and new seizure procedures have been prevented.

The court appointed a three-person commissioner committee to manage the company's concordat process. In line with the instructions sent to banks, it was deemed appropriate to add a "concordat measure" annotation to checks presented during the temporary protection period. It was announced that the critical hearing date, when Prolift's financial situation will be clarified, has been set for April 15, 2026.

While the path the company will follow in the coming period is awaited with curiosity, industry representatives hope that Prolift will emerge from the temporary protection period stronger.

News Source: 12punto