Economic crisis deepens: 12 companies file for concordat in a single day
In Turkey, where the economic crisis is deepening, concordat applications are snowballing. In the last 24 hours, 12 more companies have filed for concordat to protect themselves from bankruptcy.
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Structural problems in the Turkish economy, high inflation, rising exchange rates, sharp increases in production costs, and a heavy tax burden are putting pressure on the real sector. As consumer demand declines, payment chains are breaking in many sectors, and concordat filings have reached record levels.
12 COMPANIES FILED FOR CONCORDAT IN THE LAST 24 HOURS
In just one day, exactly 12 companies filed for concordat by applying to the court. The companies in question requested legal protection in order to pay their debts and continue their operations.
The companies that filed for concordat are as follows:
Ytt Otomotiv
Hüma Hastanesi
Nazlı Ecza Deposu
Agro Tiger Tarım
Genart Tekstil
Uzn Auto Yapı
Emir Çift Cam
2K İplik Sanayi
Veysi Dalmış Tarım
Tefa Dış Ticaret
Arslanlar Kauçuk
DNZ Yedek Parça
HUNDREDS OF COMPANIES GRANTED GRACE PERIODS
It is not just these 12 companies; hundreds of companies across the country have applied to courts to file for concordat. These companies have been granted a temporary grace period. During this period, creditors are prohibited from initiating enforcement proceedings, and the companies will attempt to survive by restructuring their debts.