18.03.2025 09:30
The global economic crisis has led to the bankruptcy of numerous companies, and the latest addition to this chain is Batik, one of Turkey's leading women's clothing brands. MyGlobe, the company that houses Batik stores, which have branches in almost every shopping mall, has declared bankruptcy protection.
According to the news from Patronlar Dünyası; Batik, which was sold by the Ziyal Family for 35 million dollars in the past, was sold to Myglobe, owned by Mehmet Yılmaz, in 2020 following the economic problems faced by the family.
BRANCHES IN ALMOST EVERY SHOPPING MALL
The textile giant, which has branches in almost every shopping mall, declared concordat due to accumulated debts. The Bakırköy 1st Commercial Court had issued a temporary injunction decision for 3 months regarding Batik, one of Turkey's oldest ready-to-wear brands, in December.
3-MONTH TEMPORARY INJUNCTION NOT EXTENDED
As a result of the report prepared by the 3-member concordat commissioner board assigned to examine the company's financial statements, a 1-year definitive injunction decision was made regarding Myglobe, which includes Batik, while the 3-month temporary injunction decision given for the company's owner, Mehmet Yılmaz, was not extended.
DEBTS EXCEED 125 MILLION LIRA
Entering a recovery process, Batik sought investors for new stores by participating in the franchise fair in 2024. However, things did not go as expected. Batik did not bring happiness to its new owner either. It was learned that the company's total debt exceeded 125 million TL, and it was reported that a creditors' committee would be established by court order.