Turkey's 121-year-old tea giant has gone bankrupt

Turkey's 121-year-old tea giant has gone bankrupt

16.06.2026 14:10

A bankruptcy decision was issued by the court regarding Tirebolu 42 Tea, one of the long-established tea brands of the Black Sea region, whose founding dates back to 1905. As the liquidation process for the company has been initiated, creditors and rights holders are asked to apply to the Bankruptcy Office within one month. The first meeting regarding the bankruptcy process will be held on July 30.

Tirebolu 42 Tea Food Marketing Industry and Trade Joint Stock Company, one of the long-established tea producers of the Black Sea region, has gone bankrupt following financial difficulties.

The Tirebolu 2nd Commercial Court of First Instance ruled the company's bankruptcy with a decision taken on May 14, 2026. With the court's decision, the official bankruptcy process for the company has been initiated.

LIQUIDATION PROCESS HAS BEGUN

In the announcement made by the Tirebolu Enforcement Office, it was reported that the "ordinary liquidation" process has been put into effect for the company. The bankruptcy date has been recorded as May 14, 2026, at 13:52.

CALL MADE TO CREDITORS

The Enforcement Office announced that individuals and institutions with claims against the company must apply within one month following the publication of the notice, along with the necessary documents.

Additionally, it was stated that those claiming rights over the company's assets, as well as those who owe debts to the company or hold company assets, must report their situation to the Bankruptcy Office within the same period.

FIRST MEETING ON JULY 30

It has been announced that the first creditors' meeting regarding the bankruptcy process will be held on July 30, 2026, at 14:00 at the Tirebolu Enforcement Office.

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