23.10.2026 11:06
S.S. ÖR-KOOP Nazilli and Surroundings Agricultural Development Cooperative, which has contributed to agricultural production in Aydın since 1979 and has more than 4,000 producer partners, applied for concordat in order to overcome its financial difficulties and make its activities sustainable. Upon the application, the court issued a temporary moratorium decision as of October 21, 2026, and appointed a concordat commissioner to the cooperative.
The S.S. ÖR-KOOP Nazilli and Surroundings Agricultural Development Cooperative, which has been operating in Aydın for 47 years and has more than 4,000 producer partners, applied for a concordat due to financial difficulties.
BOARD OF DIRECTORS: WE FACED A VERY SEVERE FINANCIAL SITUATION
In a statement made by the Cooperative Board of Directors, it was stated that when they took office on July 27, 2025, they encountered a very severe financial situation.
It was stated that at the time the duty was taken over, together with 190 million TL in bank loan debt, 151 million TL in not-yet-due cheque obligations, and approximately 90 million TL in debt to producers, the total debt burden was at the level of 431 million TL. It was also reported that all real estate within the cooperative is mortgaged, that some have lease annotations on them, and that the feed factory, one of the most important facilities, was leased for 15 years during the previous management period and three years' rent was collected in advance.
INCREASING FINANCING EXPENSES
?In the first two months after taking office, personal resources were also mobilized, cheque payments totaling 107 million TL were made, and the bank loan debt was reduced to 176 million TL, it was reported. However, it was emphasized that the financing expenses of the last five years reaching 220 million TL, and the financing expense for 2025 alone reaching 97 million TL, increased the pressure on the financial structure.
It was announced that although real estate collateral reaching twice the existing debt was offered for the restructuring of bank debts, the expected result could not be obtained from the negotiations.
IT IS AIMED TO PAY ALL PRODUCER RECEIVABLES
?After all efforts maintained for approximately 15 months, it was stated that the concordat process became mandatory in order to protect the rights of creditors and producers.
Within the scope of the preliminary concordat project prepared, it is aimed to establish a regular functioning for payments related to new milk deliveries and to pay all past-period producer receivables. ?
In the statement, it was said, "Our aim is not to evade our debts, but to re-establish a strong cooperative capable of fulfilling all our obligations. We are determined to protect our producers' labor, our partners' trust, and the future of our region."?