03.09.2025 15:05
The global economic crisis has led to the bankruptcy of many companies in Turkey, with the latest addition being Metraco, a 32-year-old ready-to-wear giant. The company, which has won awards for employing people with disabilities at its facility in Kocaeli, has declared bankruptcy protection.
Metraco, one of Turkey's long-established ready-to-wear brands, declared concordat under the shadow of the economic crisis. Founded in 1993 in Istanbul and making a difference in the industry with its main production facility in Kocaeli, the company specialized in men's, women's, and children's clothing with over 500 employees.
FELL INTO DIFFICULTY DUE TO RISING COSTS
With a monthly production capacity of 200,000 units, Metraco manages all processes from cutting to ironing in-house, but has faced financial difficulties in recent years due to rising costs and economic fluctuations.
3-MONTH TEMPORARY CONCORDAT PERIOD GRANTED
The Istanbul 3rd Commercial Court granted the company a 3-month temporary concordat period on August 25, 2025. With the decision registered in the trade registry on August 29, Metraco was given until November 25, 2025, to correct its financial structure. Metraco was a pioneer not only in production but also in social responsibility.
By establishing the "Our Village" Disabled Production Center in its factory in Kocaeli, it made a difference by providing employment for disabled individuals. With this project, it won the "Best Job Creation and Business Development Project" award from the International Chamber of Commerce in 2015. However, competition in global markets, rising raw material prices, and a contraction in domestic demand have put the company in a difficult position.
"THERE IS A CHANCE OF RECOVERY"
Industry experts state that Metraco has a chance of recovery through debt restructuring and new investment partners. The decisions the company will make during the concordat process are critically important for both its employees and suppliers.