It was a tax record-holder... 67-year-old company files for concordat
Karataş Group, which has appeared on tax record-holder lists and operates in various sectors from iron and steel to logistics, has filed for a concordat. A temporary grace period decision has been issued for all 6 companies in the group, and it was stated that their financial situation is being examined by a committee.
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Another large-scale company on the brink of bankruptcy has been added to the list. Founded 67 years ago in Istanbul and prominent for its activities in the iron and steel sector, Karataş Group has filed for a concordat.
According to a report by Birgün, the Bursa 1st Commercial Court of First Instance has granted a 3-month temporary grace period for the company's 6 subsidiaries. The court has appointed a 3-person concordat commissioner committee to audit the company's financial structure.
APPLICATION FILED FOR 6 SUBSIDIARIES
The concordat application covers the following companies within the Karataş Group:
Karataş Çelik Servis Merkezi Sanayi ve Ticaret A.Ş.
Karataş Demir Çelik Sanayi ve Ticaret A.Ş.
Karataş Depolama ve Lojistik A.Ş.
Karataş Makine İmalat Sanayi ve Ticaret A.Ş.
Karataş Panel Saç Sanayi ve Ticaret Ltd. Şti.
Karataş Sac ve Boru Turizm Sanayi Dış Ticaret A.Ş.
The group's areas of activity included various fields such as steel service operations, machinery manufacturing, logistics solutions, warehousing, and foreign trade.
THEY HAD RECEIVED AWARDS
Karataş Group had made a name for itself not only with its production power but also with its awards and tax rankings. The group companies were deemed worthy of the environmental sector leader award as part of the “49th Contributors to the Economy Award Ceremony” held 4 months ago.
Furthermore, the company ranked 7th on the list of companies that paid the most taxes in Gemlik in 2016.