The concordat process for Taban Gıda Dış Ticaret AŞ, which operates in agricultural commodity trading, has ended with a bankruptcy ruling. The Istanbul 1st Commercial Court of First Instance rejected the company's request for a final grace period and ordered the lifting of the temporary grace period and protective measures.
With the court's decision, the mandate of the concordat commissioner board has also been terminated. It was stated that the bankruptcy of Taban Gıda Dış Ticaret AŞ was opened as of 1:27 PM on October 1, 2026. The decision was announced by the Istanbul 2nd Bankruptcy Office on October 7, 2026. Liquidation proceedings will be conducted under file number 2026/17.
A three-month temporary grace period had been granted for the company and Aras Demir starting from July 9, 2026. Following the three-month period, the request for a concordat was not accepted at the hearing held on October 1, and a bankruptcy ruling was issued for the company.
IT HAD BEEN ON THE LIST OF MAJOR COMPANIES
Founded in 2016, Taban Gıda had quickly entered the ranks of Turkey's major companies. The company joined the Fortune 500 Turkey list in 2019 at the 183rd position; it rose to 142nd in 2020 and 130th in 2021. Having completed 2021 with a turnover of over 4.5 billion TL, the company was ranked 170th in the 2024 Fortune 500 Turkey list and 248th in the Capital 500 list.
According to Capital 500 data, while Taban Gıda's 2023 turnover exceeded 12.5 billion TL, its pre-tax profit was recorded at 13.3 million TL.
Taban Gıda was active in the supply and transit trade of wheat, corn, barley, soy, oilseeds, and feed raw materials. In previous statements, the company had indicated that it carried out approximately 20 percent of Turkey's wheat imports and managed more than 1 percent of global wheat trade.
Following the rise in freight costs and global logistics problems during the pandemic, the company's parent organization, Vivalon AG, had also invested in maritime transport. In this context, a Japanese-made dry cargo ship with a capacity of 42,648 DWT was purchased in 2021 with an investment of 9 million dollars, and later, a second Italian-made dry cargo ship with a capacity of 7,550 DWT was added to the fleet for 5 million dollars.
News Source: 12punto
