Retail bosses warn: A major disaster awaits us
The rapid increase in concordat and bankruptcy filings in Turkey is seen as a signal of a serious crisis in the industry. Leading figures from the textile and retail sectors warned that "a major disaster is at the door" during a meeting hosted by Artaş Holding.
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As of 2025, news of concordats and bankruptcies has begun to arrive one after another. The economic squeeze, particularly in the textile and retail sectors, has revealed a serious bottleneck spreading across the Turkish industry. Many large firms have begun closing their factories in Turkey and moving their operations to Egypt due to rising production costs.
This situation was also brought to the agenda at an event hosted by Artaş Holding. Turkey's leading business people emphasized that current economic conditions have become unsustainable and issued striking warnings to the economic administration.
STRIKING WARNING FROM ABDULLAH KİĞILI: "WE WON'T BE ABLE TO FIND PRODUCTS IN 6 MONTHS"
According to a report by Yener Karadeniz from Ekonomim, Kiğılı Chairman of the Board Abdullah Kiğılı, who took the floor at the meeting, expressed the crisis in the sector in plain terms. Drawing attention to the economic picture, Kiğılı said, "A major disaster awaits us; we won't be able to find products in 6 months. The state has written off the ready-to-wear and textile sectors."
Kiğılı's words highlighted not only the distress in the ready-to-wear sector but also a potential collapse that could occur in the production chain.
VAHAP KÜÇÜK: "WITHOUT SHOPPING MALLS, RETAIL COULD NOT HAVE GROWN"
Another speaker at the event, LC Waikiki Chairman of the Board Vahap Küçük, stated the following:
"Today, we provide employment for 55 thousand people. The retail sector grew with shopping malls. We grew abroad with the experience we gained here. If it weren't for shopping malls, it would not have been possible for us to grow on the streets. If we are growing this much abroad, it is thanks to our experience in Turkey. The retail sector and shopping malls are like flesh and nail."
"THERE IS NO LONGER ANY POSSIBILITY OF CUTTING INTEREST RATES"
In his speech, Vahap Küçük also drew attention to the current problems in the sector, stating, "We are going through a difficult period, but what is important is to focus on what we can do better within our sphere of influence. You have no possibility of lowering inflation or interest rates, but we need to focus on how we can make our businesses better and how we can manage costs better."