Turkey's olive oil giant on the brink of bankruptcy

As one of Turkey's leading olive oil brands, Olivos has applied to the court for a concordat due to financial difficulties. The İzmir 1st Commercial Court of First Instance has issued a three-month temporary grace period for Olivos Pazarlama A.Ş., SDA Gıda Tarım A.Ş., and the chairman of the board, Selçuk Atalay, effective from August 13, 2025. During this period, the companies are expected to restructure their financial positions.

The court has appointed Independent Auditor and Certified Public Accountant İbrahim Sadi Erk as the temporary concordat commissioner to monitor and report on the concordat process. The commissioner will evaluate the financial status of the companies, protect the rights of creditors, and prepare reports on the progress of the process.

Olivos Pazarlama A.Ş. and SDA Gıda Tarım A.Ş. are registered in the İzmir Trade Registry under numbers 220697 and 273873, respectively. Chairman of the board Selçuk Atalay has also been included in the concordat process personally.

The first hearing for the concordat file will be held on November 6, 2025, at the İzmir Regional Court of Justice Annex Building. Following the announcement of the concordat, the court has granted interested parties a seven-day right to object. Objections to the concordat request can be filed within this period.

Olivos, which has previously received awards from the Aegean Olive and Olive Oil Exporters' Association, is going through a difficult period due to the financial crisis. The company had been deemed worthy of awards for "the firm with the most exports under its registered brand" and "the firm with the most packaged exports."