03.04.2026 08:42
Baran Kablo, which has been operating for 22 years, filed for concordat in order to overcome the financial crisis. The company was granted a 90-day temporary stay to continue its operations after the request was accepted.
Baran Kablo A.Ş., which operates in Gebze, one of the important industrial centers of Kocaeli and has a 22-year history in cable production, has filed for concordat due to a financial bottleneck it is experiencing. The company initiated the legal process to restructure its debts by applying to the Gebze Commercial Court after facing serious issues in cash flow.
COURT ISSUES 90-DAY TEMPORARY STAY ORDER
The court evaluated the application and issued a 90-day temporary stay order to ensure the continuation of the company's operations. During this process, Financial Advisor Tuncer Karaman was appointed as the "Temporary Concordat Commissioner" to audit the company's financial situation. Karaman will present the likelihood of Baran Kablo's recovery to the court with reports he will prepare by examining the company's financial movements.
OBJECTION PROCESS FOR CREDITORS HAS BEGUN
With the announcement made under the Enforcement and Bankruptcy Law, the legal objection process for creditors has also begun. Creditors will be able to submit their objections to the court regarding the non-fulfillment of concordat conditions within seven days from the announcement of the decision.
CRITICAL HEARING ON JUNE 25
The future of the process will become clear in June. The court will hold a preliminary hearing on June 25, 2026, at 14:30. In this hearing, critical decisions will be made regarding whether the temporary stay will be confirmed and the company's financial future.