11.03.2025 08:20
Settriko, a large textile company based in Istanbul that produces for major brands like LCW and DeFacto, is facing the risk of bankruptcy due to financial difficulties.
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Settriko Textile, one of Turkey's leading textile companies, is facing a serious financial crisis. According to a report by Deniz Çağıl from Sözcü, the company, which stands out especially with its knitwear products and has established a significant presence in the local market by producing for major brands such as Boyner, LCW, and DeFacto, has applied for concordat at the Bakırköy 3rd Commercial Court due to the financial difficulties it has experienced recently.
1 MONTH OF ADDITIONAL TIME GRANTED
The court granted an additional month at the end of the 3-month period given for the company to recover in December 2024. It was also decided that the three-person concordat commissioners assigned to oversee the company's activities would continue their duties during this period.
THEY MAY BE FORCED TO DECLARE BANKRUPTCY
If the expected developments do not occur within the granted 1-month period, Settriko Textile may be forced to declare bankruptcy.
PRODUCING FOR WORLD-FAMOUS BRANDS
Founded in 2008, the company produces 1.7 million units annually in an area of 3,000 square meters in Istanbul. The company produces for local markets such as Boyner, LCW, and DeFacto, as well as for global brands in many countries including Germany, the Netherlands, Norway, Sweden, Italy, Spain, Poland, Ireland, the UK, and Denmark.
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