Turkey's textile giant shuts down: Over 100 citizens left unemployed

A 68-year-old textile giant operating in the Lüleburgaz district of Kırklareli has announced that it is closing down due to economic reasons.

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Turkey's textile giant shuts down: Over 100 citizens left unemployed

Akın Tekstil, a 68-year-old company operating in the Lüleburgaz district of Kırklareli, has ceased its operations and terminated the employment of 152 workers.

The company published its KAP (Public Disclosure Platform) statement with a 4-day delay in accordance with the Capital Markets Board (SPK) Communiqué to prevent harm to the company. In the statement made by the company, it was stated that economic and operational difficulties lie behind this radical decision.

REASONS ANNOUNCED

In the statement made by the company, the main reasons leading to the decision to cease operations and lay off employees were listed as follows: The Fight Against Inflation and Exchange Rate Policy, Personnel Costs, Financing Problems, and Collective Bargaining Agreements.

UNEMPLOYMENT IN THE REGION MAY RISE

The company announced that the legal process regarding the employees whose employment contracts were terminated would be initiated and that the board of directors had been authorized to carry out the procedures. With the layoff of 152 people, there is concern that the unemployment problem in the region may grow.

THE STORY OF AKIN TEKSTİL

The story of Akın Tekstil began in 1956 in a factory founded by Rüştü Akın together with his brother Haydar Akın. Starting production with 40 looms and 23 employees, Akın Tekstil became one of the leading integrated manufacturers in our country and Europe, exporting fabric and ready-to-wear clothing to the world over the years. Unable to withstand economic difficulties, Akın Tekstil ended its operations in 2024.

News Source: 12punto