13.10.2025 08:23
One of Turkey's established shoe brands, Yeşil Kundura, which has recently changed its name to HK Kundura, has filed for concordat due to financial difficulties. The court evaluated the application of the company, which has changed its name but not its unfortunate fate, and issued a bankruptcy protection decision.
The management board chairman of Yeşil Kundura, one of Turkey's oldest shoe brands, Hüseyin Kızanlıklı, has seen the initials of his name represented in HK Kundura, which has come to the brink of bankruptcy. It has been learned that the company, which has continued its operations under its new name throughout the year, filed for concordat after failing to overcome its financial difficulties.
The Istanbul Anatolian 2nd Commercial Court evaluated the company's request and issued a temporary injunction. After the three-month period granted in July, the company was provided with two more months of bankruptcy protection. HK Kundura's next hearing will be held in December 2025.
FILED FOR CONCORDAT IN 2018
Yeşil Kundura, which has numerous franchise stores in various provinces, had previously filed for concordat in 2018 due to a similar financial crisis. At that time, the court had halted new seizure proceedings against the company.
THE COMPANY ENTERED THE SAME PROCESS ONCE AGAIN
Completing the concordat process in December 2023 and restructuring its financial structure, the company has once again entered the same process due to the economic difficulties it faced this year.
FOUNDED IN 1948
The foundations of Yeşil Kundura were laid in 1948 in a small workshop established by the Green Brothers, and over the years, it has become one of Turkey's most recognized shoe brands.