02.05.2025 12:02
The global economic crisis has led to the bankruptcy of numerous companies, and the latest addition to this list is Çiçekçi Tekstil, which has been operating in the textile sector since 1954. The Turkish textile giant, unable to overcome its financial difficulties, has declared bankruptcy protection.
The effects of the global crisis are being felt seriously in Turkey as well, while many companies continue to wave the bankruptcy flag as they cannot get out of the bottleneck.
The latest company added to the circle is Çiçekçi Tekstil, a textile giant based in Denizli that has been producing since 1954 and selling throughout Turkey.
TOTAL DEBT EXCEEDS 1 BILLION 500 MILLION TL
The 70-year-old Turkish textile giant, struggling to access cheap credit and financing, has filed for concordat. It has been learned that the company's total debt exceeds 1 billion 500 million TL, with approximately 300 million TL of that debt consisting of loans to banks.
SUBCONTRACTING WORKSHOPS WILL ALSO BE AFFECTED
The concordat application is expected to negatively affect not only Çiçekçi Tekstil but also its affiliated companies and many subcontracting workshops. So far, no official statement has been made by the company officials regarding the concordat process.
The company, which has been producing for many major brands for years, was known as one of the strongest producers in the region with hundreds of employees and a long-standing business volume.