Nut giant on the brink of bankruptcy! Concordat period extended

Peyman, one of the leading companies in Turkey's nut industry, has been unable to overcome its economic bottleneck. After the company declared a concordat in February and failed to recover within three months, the temporary grace period was extended by another two months. If the company cannot recover during this period, it will face the risk of bankruptcy.

PERIOD EXTENDED BY TWO MORE MONTHS

Peyman Kuruyemiş, which operates under İş Gıda, had filed for a concordat in February. The court had granted the company a three-month temporary grace period. However, the company could not improve its situation. The 3-month temporary grace period granted by the court in February has been extended by 2 months, effective from April 30, 2025.

According to the report by Gerçek Gündem, the court decided that all existing measures shall remain in effect throughout the temporary grace period. At the same time, it was ruled that a new report should be obtained from the temporary commissioner board overseeing the concordat process and that the completion of expert examinations should be awaited.

The request by the plaintiff company's attorney for the seizure and issuance of a warrant for the goods subject to two separate contracts signed with Deniz Finansal Kiralama A.Ş. will be decided after obtaining the opinion of the commissioner board. The court unanimously decided that the next hearing of the concordat case will be held on June 25, 2025, at 10:25 AM.

The two-month extension of the concordat process, known as the final stage before bankruptcy, has led to a wait for the board report to be prepared regarding the company. If the 3-member concordat commissioner board decides in its report that the company is not fulfilling its commitments, the bankruptcy of Peyman Kuruyemiş could be ordered.