GKN Kargo had sponsored Galatasaray, now faces concordat claim! It was set to pay 42 million TL

It has been alleged that GKN Kargo, one of Galatasaray's sponsors, has filed for a concordat. The company sat down with Galatasaray in July 2023 and signed a sponsorship agreement. According to this agreement, the company was set to pay 42 million TL to Galatasaray.

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GKN Kargo had sponsored Galatasaray, now faces concordat claim! It was set to pay 42 million TL

Galatasaray sponsor GKN Kargo has filed for a concordat due to financial difficulties it is experiencing.

GKN Kargo, one of the prominent representatives of the cargo sector, faced financial problems following the sponsorship agreement it made with Galatasaray. The company's debt, which exceeds 500 million TL, has come to light.

In the application made to the Istanbul 1st Commercial Court of First Instance, it was determined that the company requested protection against potential foreclosures. The court granted the company a temporary 3-month period and also decided to appoint a "concordat commissioner committee." It was stated that the company's total assets amount to 281 million 194 thousand TL.

"OUR COMPANY HAS BECOME UNABLE TO MOVE"

According to the report by Eray Kalelioğlu from Webtekno, GKN Kargo sat down with Galatasaray in July 2023 and signed a 42 million TL sponsorship agreement. However, it is alleged that this agreement was the reason that triggered the concordat process. The company's petition included the statement, "Our company has become unable to move."

News Source: 12punto