It was also manufacturing for LCW and DeFacto! Giant textile firm on the brink of bankruptcy

Settriko Tekstil, one of Turkey's leading textile companies, has faced a serious financial crisis.

According to a report by Sözcü, the company, which stands out especially with its knitwear products and has established a wide presence in the local market by producing for major brands such as Boyner, LCW, and DeFacto, has filed for a concordat with the Bakırköy 3rd Commercial Court of First Instance due to the financial difficulties it has experienced recently.

1-MONTH EXTENSION GRANTED

In December 2024, the court granted an additional month at the end of the 3-month period given for the company to recover.

During this process, it was also decided that the three-person concordat commissioner board appointed to oversee the company's operations would continue their duties.

THEY MAY BE FORCED TO DECLARE BANKRUPTCY

If the expected developments do not occur within the 1-month grace period granted, Settriko Tekstil may be forced to declare bankruptcy.

PRODUCES FOR WORLD-FAMOUS BRANDS

Founded in 2008, the company carries out an annual production of 1 million 700 thousand units in a 3 thousand square meter area in Istanbul.

The company produces for Boyner, LCW, and DeFacto in the domestic market, as well as for world brands in many countries such as Germany, the Netherlands, Norway, Sweden, Italy, Spain, Poland, Ireland, the United Kingdom, and Denmark.