Concordat and bankruptcy earthquake: Shock decision from 15 companies
Economic fluctuations in Bursa have led many companies to file for concordat and bankruptcy. The court has terminated the commercial activities of some firms while granting others a chance for financial recovery.
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Economic difficulties in Bursa have left many companies in the city in a difficult position. The Bursa 1st Commercial Court of First Instance has taken significant decisions regarding the concordat or bankruptcy requests of 15 companies. These decisions are of a nature that will affect the economic balance in the region.
The court rejected the concordat requests of BRS İplik Teknik Tekstil A.Ş. and Sude Canlı ve Kesilmiş Hayvan Et Sanayi Ltd. Şti. Stating that neither firm met the conditions for bankruptcy, the previously issued injunctions were lifted and the duties of the commissioners were terminated.
ONE YEAR FOR FINANCIAL RESTRUCTURING
Gökkaya Koltuk Mobilya, HMG Mobilya, Polox Mobilya, and Cius Turizm Otomotiv were granted a definitive one-year period effective from August 14, 2025. During this process, the companies are expected to improve their financial situations. While the commissioners' duties continue, a creditors' committee has not yet been formed.
BANKRUPTCY OF EIGHT COMPANIES ANNOUNCED
The court declared the bankruptcy of eight companies and initiated the liquidation process. Among these companies are firms such as Bursa Global Profesyonel Atık Yönetimi Ltd. Şti., Global Yaş Sebze Meyve Sanayi ve Tic. Ltd. Şti., and Avar Gıda Deniz Ürünleri A.Ş. Liquidation proceedings will be carried out using the simplified method, and the injunctions have been lifted.
COMPANY WITHDRAWING APPLICATION
Dilaksem Nakış Sanayi ve Tic. Ltd. Şti. withdrew its concordat application. It was determined that the company was not insolvent, no grounds for bankruptcy were found, and the injunctions were lifted.