A 120-year-old tea company is going bankrupt.

25.04.2025 10:21

The tea company, which has a history of 120 years, has come to the brink of bankruptcy due to financial difficulties. During the concordat process, the court set a date for a creditors' meeting at Tirebolu 42.

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Founded 120 years ago, Turkey's tea giant Tirebolu 42 could no longer withstand the 42 global economic crises. The tea company Tirebolu 42, which is on the brink of bankruptcy, was given a 15-day period by the Istanbul 1st Commercial Court to notify creditors of their claims. The court has recently set a date for the creditors' meeting for the tea giant that has been in service for 120 years.

Tirebolu 42 Tea Factory, a well-known tea brand from Giresun that has become an important brand in Turkey, had requested concordat as it could not recover from the prolonged economic crisis. In the concordat case seen at the Istanbul 1st Commercial Court, after a final deadline decision was made regarding Tirebolu 42 Tea, the process moved to the creditors' meeting stage. The committee consisting of the concordat commissioners appointed by the court, Suphi Ağırbaş, Naci Uzunok, and Prof. Dr. Ali Cem Budak, completed all legal processes in accordance with the relevant articles of the Enforcement and Bankruptcy Law (EBL).

CREDITORS' MEETING DATE IS MAY 15

As part of the call made to creditors by the court, the debtor's statement was taken, examinations regarding the claims records were completed, and the concordat project was finalized. It was decided that the creditors' meeting, where the concordat proposal will be discussed, will be held on May 15, 2025, at the Titanic Business Hotel located in Kartal, Istanbul. The meeting for ordinary creditors will start at 10:00 AM. A separate meeting for secured creditors will be held on the same day at 12:00 PM.