02.06.2025 08:10
The global economic crisis has led to the bankruptcy of numerous companies in Turkey, with the latest addition to the list being the textile giant Uğur Balkuv. Uğur Balkuv, which holds a significant position as a supplier in the international textile market and provides products to many world-renowned brands, has come to the brink of bankruptcy.
The Turkish textile giant Uğur Balkuv has come to the brink of bankruptcy, unable to escape payment defaults. Uğur Balkuv has been a significant supplier in the international textile market for many years, providing products to world-renowned brands such as Hugo Boss, Mango, Zara, Diesel, Massimo Dutti, Esprit, and Timberland.
THEY HAD FILED FOR CONCORDATUM
A legal process has been initiated for the company, which filed for concordatum due to recent financial troubles. The Istanbul Anadolu 3rd Commercial Court decided to grant the company a three-month temporary stay in the concordatum approval case. The court appointed three individuals as the concordatum supervisor. In a statement made by the court, it was announced that the hearing would take place on August 20, 2025, at 14:00.
THERE IS A RIGHT TO APPEAL
In the court decision, it was stated that the company has the right to appeal within seven days from the date the concordatum announcement was published in the newspaper. The decision included the following statements: "It can be argued with evidence that there is no situation that would require the granting of a concordatum period, and in this context, they may request the court to reject the concordatum application, as announced in accordance with Article 288 of the Enforcement and Bankruptcy Law."
IT WAS MANUFACTURING FOR WORLD-RENOWNED BRANDS
Located in the Dudullu Organized Industrial Zone of Istanbul, Uğur Balkuv operates as one of the largest textile product factories in the region. The company was producing textile products for many global brands, primarily Hugo Boss, Mango, Zara, Diesel, Massimo Dutti, Esprit, and Timberland, with its production capacity and quality.