Bursa-based chocolate and wafer manufacturer goes bankrupt
The concordat request of Master Choco Gıda, which operated in Bursa and increased its production capacity in a short time, was rejected by the court, and a bankruptcy decision was issued for the company.
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A bankruptcy decision has been issued for Master Choco Gıda, one of the companies that grew rapidly in the food sector in Bursa. The concordat process initiated due to economic difficulties was rejected by the court.
CONCORDAT REQUEST NOT ACCEPTED
Master Choco Gıda, which started its operations eight years ago, filed for a concordat due to the financial problems it was experiencing. However, in the case heard at the Bursa 1st Commercial Court of First Instance, the restructuring plan submitted by the company and its partner was not found sufficient. The court decided to reject the concordat request.
BANKRUPTCY DECISION AND LIFTING OF PRECAUTIONARY MEASURES
The court panel ruled for the bankruptcy of the company following the rejection of the concordat request. While the authority of the concordat commissioner serving in the process was terminated, all previously taken precautionary measures regarding the company were also lifted.
DIFFERENT EVALUATION FOR THE GROUP COMPANY
Master Bronz, which operates within the same group, was also examined by the court. However, it was concluded that the conditions for bankruptcy had not yet been met for this company. Therefore, the process regarding Master Bronz was kept separate from Master Choco Gıda.
HAD INCREASED PRODUCTION CAPACITY IN A SHORT TIME
Founded in 2018, Master Choco Gıda had achieved rapid growth in the sector with its production of wafers and chocolate products. The facility, which operated in a 2,000-square-meter indoor area in Bursa, had reached a daily production capacity of 12 tons.