25.10.2026 07:50
Selçuk Mağazacılık A.Ş., the company behind the domestic clothing brand Bad Bear, which entrepreneur Seyhan Selçuk founded in a room of her house in 2012 and which reached millions of product sales, has gone bankrupt. The company, which declared a concordat due to rising costs, high interest rates, and declining sales, could not overcome its financial difficulties despite restructuring its debts. The court ruled for the company's bankruptcy.
A bankruptcy decision has been issued for Selçuk Mağazacılık A.Ş., the company behind Bad Bear, one of Turkey's well-known domestic clothing brands. The brand, which entrepreneur Seyhan Selçuk founded in a room of her home in 2012 and which reached sales of millions of products, faced economic difficulties. The company, which applied for a concordat due to rising interest rates, increasing costs, and declining sales, could not escape bankruptcy despite restructuring its debts.
SHE FOUNDED IT IN A ROOM OF HER HOME AND SOLD MILLIONS OF PRODUCTS
Bad Bear, which two-child mother and entrepreneur Seyhan Selçuk founded in Istanbul's Merter district in 2012, became one of Turkey's known clothing brands on a journey that began as a small venture.
Selçuk first started selling belts, socks, and boxer shorts with the brand she founded in a room of her home. Expanding its product range over time, Bad Bear grew in the clothing sector and reached sales of millions of products.
Reaching customers through e-commerce platforms as well as physical stores, the brand expanded its field of activity over the years. However, recent economic developments negatively affected the company's financial structure.
INCREASING COSTS PUT THE COMPANY IN DIFFICULTY
Rising interest rates, increases in production and operating costs, and the decline in sales deepened the financial problems of Selçuk Mağazacılık A.Ş.
After the cash shortage, the company management applied for a concordat in order to restructure its debts and continue its operations.
Selçuk Mağazacılık A.Ş., together with company partners Seyhan Selçuk and Kadir Çalışkanlar, filed for a concordat with the Istanbul 3rd Commercial Court of First Instance.
THE DEBTS WERE PLANNED TO BE PAID OVER 36 MONTHS
The court evaluating the concordat application issued a final period decision regarding the company. According to a report by Para Magazine, a payment plan for creditors was created during this process.
According to the prepared plan, the company was expected to pay its debts in 12 equal installments within 36 months. With the restructuring of debts, it was aimed to improve the company's financial situation and continue its operations. However, although the first installments were deposited under the payment plan, the expected recovery in the company's financial structure did not occur.
THE COURT ISSUED A BANKRUPTCY DECISION
The Istanbul 3rd Commercial Court of First Instance, evaluating developments in the concordat process, issued a bankruptcy decision for Selçuk Mağazacılık A.Ş. Thus, the concordat process of the company behind the Bad Bear brand, which Seyhan Selçuk started in a room of her home and which over time reached sales of millions of products, ended in bankruptcy. The company, which grew over the years and established a place for itself in the clothing sector, could not obtain a result from its attempt to restructure its debts due to increasing costs and financial difficulties.