19.07.2025 10:01
One of the established companies in the meat and food sector, Seret Meat and Food, has filed for concordat due to financial difficulties. The Istanbul 1st Commercial Court has granted a one-year definitive stay of execution for the company and its partner, Servet Bekar.
One of the leading companies in the meat and food sector in Turkey has filed for concordat. Istanbul-based Seret Meat and Food applied to the court to overcome its financial difficulties. The Istanbul 1st Commercial Court decided to grant a definitive period of 1 year for the company and its partner Servet Bekar.
THEY WILL BE PROTECTED FROM CREDITOR ENFORCEMENT PROCEEDINGS
The court also ruled that the concordat commissioner board overseeing the company's financial process will continue its duties. With this decision, the company will be protected from creditor enforcement proceedings for 1 year and will be able to continue its operations under legal protection.
CHAIN CONCORDATS IN THE SECTOR
The concordat decision of Seret Meat has become a new link in the economic contraction experienced in the food sector in recent weeks. Previously, significant companies operating in different regions of the sector had also taken similar steps:
- Yusuf Meat from Doğadan Gelen: The company operating in the Marmara and Bursa regions received a 3-month temporary period from the Ankara West Commercial Court. The company's partner Ramazan Tosun was also included in the concordat process.
- Gülhanlar Güven Food: The company supplying products to hotels and restaurants in Alanya applied for concordat due to economic difficulties. A 3-month temporary period was granted.
- Çiloğlu Food: A definitive period of 1 year was decided by the Istanbul Anatolian 3rd Commercial Court for Çiloğlu Food and its partners, which are among the exporting companies.
COSTS ARE RISING, DEMAND IS SHRINKING
Sector representatives attribute the ongoing wave of concordats to rising input costs, fluctuations in foreign exchange, and the contraction in domestic demand. It is stated that the increase in meat prices has reduced consumption, and businesses are struggling to manage their debts. Economists warn that while concordat decisions provide short-term protection to companies, bankruptcies may increase if the structural problems of the sector are not resolved.