The industry giant that could not overcome its financial bottleneck has filed for bankruptcy, and creditors are lining up.

15.08.2025 21:51

Atak Kumaş Tekstil went bankrupt after being unable to overcome its financial difficulties. The Bursa 1st Commercial Court ruled on July 9, 2025, that the company was insolvent and declared its bankruptcy. Its assets will be liquidated, and payments will be made to creditors in order of priority.

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Atak Kumaş Tekstil İthalat İhracat Sanayi ve Ticaret A.Ş., which has a significant place in the sector with its export and import activities, went bankrupt as it could not overcome its financial difficulties.

THE CONCORDAT PROCESS FAILED

The company, which applied for concordat last year, made a second application as it could not recover its financial structure. However, this attempt also ended in failure. The Bursa 1st Commercial Court ruled on July 9, 2025, with decision number 2025/215, that the company was insolvent and decided to open bankruptcy as of 14:50 on the same day.

ASSETS WILL BE LIQUIDATED

The court announced that while the concordat measures and the duties of the commissioners were terminated, all of the company's assets would be liquidated following the bankruptcy. Payments will be made according to the order of creditors. In the official announcement of the T.C. Bursa Bankruptcy Office dated July 10, 2025, it was reported that the decision was announced in accordance with Article 166 of the Enforcement and Bankruptcy Law.