23.05.2025 13:30
The global economic crisis has led many companies in Turkey to shut down, with the latest addition to the list being the Karataş Group. Founded 67 years ago as a family business in Istanbul, the company declared bankruptcy after being ranked 7th in Gemlik for the highest corporate tax payment in 2016.
The global economic crisis has led many companies to declare bankruptcy, with the latest addition to the list being Karataş Group, which has risen to the top of tax rankings in Bursa.
DECLARED CONCORDATUM
Founded 67 years ago as a family business in Istanbul, Karataş Group has transformed into one of Turkey's significant companies over time and has declared concordatum following its financial difficulties.
3-MONTH TEMPORARY STAY ORDER ISSUED
Karataş Group, recognized as one of the leading firms in the sector with its subsidiaries including Karataş Iron and Steel, Karataş Sheet Pipe, Karataş Iron and Steel Gebze Branch, Karataş Sheet Pipe İzmir Branch, Karataş Steel Service Center, Karataş Storage and Logistics, and Karataş Machinery Manufacturing, has been going through tough times recently. The Bursa 1st Commercial Court issued a 3-month temporary stay order upon the company's application due to its economic difficulties and appointed a 3-member concordatum commissioner board to examine the company's financial statements.
AWARDED 4 MONTHS AGO
Karataş Group companies had recently been awarded the environmental sector leader award at the "49th Economy Value Contributors Award Ceremony" held just 4 months ago. The group also paid the 7th highest corporate tax in Gemlik in 2016. The certificate of appreciation for Karataş Iron and Steel was presented by Gemlik Tax Office Director Serdar Çıta to the chairman of the board, Muhittin Karataş.