14.08.2025 19:03
The global economic crisis has led to the bankruptcy of many companies in Turkey, with the latest addition to the list being Erşan Et, which supplies products to three-letter chain supermarkets. The large firm announced a concordat following the rising costs in the food sector.
Due to the global crisis, many companies have been closing down recently. While the effects of the crisis are also felt positively in Turkey, another company has declared concordat.
THEY COULDN'T WITHSTAND THE CRISIS
Following the rising prices in the food sector, one of Turkey's leading meat producers, Erşan Et, has declared concordat.
SUPPLYING PRODUCTS TO LARGE SUPERMARKETS
The Bilecik 3rd Civil Court announced a temporary injunction for Erşan Et, which supplies products to many large supermarkets, including three-letter chain stores, for a period of 3 months in its decision dated August 8.
A 3-MEMBER COMMISSION HAS BEEN FORMED
A three-member concordat commission has been formed to examine the financial statements of the company that has entered a financial bottleneck. The commission includes Certified Public Accountant and Independent Auditor Belkıs Öztürk, Expert in Enforcement and Bankruptcy Law Şevki Yetiker, and Certified Public Accountant-Independent Auditor Efsal Uzun.
DECISION WILL BE MADE IN NOVEMBER
After the 3-month evaluation, a new decision regarding the company's concordat process will be made. If deemed necessary, the court may convert the company's temporary injunction status into a definitive injunction for a period of 1 year, or it may rule for the bankruptcy of the large company in case of non-fulfillment of economic commitments.