Turkish wafer company with 12-ton daily production capacity goes bankrupt

The expected decision has been issued for Master Choco Gıda, which has been operating in Bursa since 2018. The company, which had a high production volume in the sector, had filed for concordat due to financial difficulties. However, the decision from the Bursa 1st Commercial Court of First Instance resulted negatively for the company, as the court rejected the concordat request and initiated the bankruptcy process directly.

With this court decision, all legal protection measures over the assets of Master Choco Gıda have been lifted, and the duty of the concordat commissioner has ended. In its ruling, the court also determined that Master Bronz, which is in the same group, does not meet the conditions for bankruptcy in terms of its financial situation and may continue its operations.

Master Choco Gıda, which carried out production in an area of approximately 2 thousand square meters, had become a notable actor in the food sector, particularly in Bursa, thanks to its capacity to produce “12 tons of finished goods per day.” The company, which showed rapid growth since its establishment, entered the liquidation process by court order after failing to overcome recent economic problems.

News Source: 12punto