24.03.2025 08:40
One of Turkey's established dairy brands, Koç Gültekin Süt, has filed for concordat due to economic difficulties. The Balıkesir-based company, which has received a 3-month temporary stay from the court, is facing the risk of unemployment for hundreds of its employees. The first hearing is scheduled for June 11.
The 40-year-old milk producer Koç Gültekin Süt from Turkey has filed for concordat due to economic difficulties. It has been reported that the Balıkesir-based company has been granted a 3-month temporary injunction by court order and has entered a financial audit process.
3-MONTH TEMPORARY INJUNCTION GRANTED
The Balıkesir 2nd Commercial Court granted the company a 3-month temporary injunction with a ruling dated March 14, 2025. At the same time, the court took a precautionary measure to protect the company's assets. To oversee the company's activities during this process, Certified Public Accountant Sema Erol was appointed as the temporary concordat commissioner.
7-DAY LEGAL PERIOD BEGINS FOR CREDITORS
According to Article 288 of the Enforcement and Bankruptcy Law, creditors who wish to object to the declaration of concordat have the right to apply to the court within seven days from the date of the announcement. The aim during this process is to restructure the debts.
PRELIMINARY HEARING IN JUNE
The preliminary hearing, which will be the first serious stage in Koç Gültekin Süt's concordat process, will take place on June 11, 2025, at 14:45. This hearing will be a critical turning point for the future of the company.
FUTURE OF HUNDREDS OF EMPLOYEES UNCERTAIN
The concordat process of Koç Gültekin Süt, which provides employment for hundreds of people, has deeply affected the company's employees as well. Due to the risk of bankruptcy, there is a danger of personnel losing their jobs. The uncertainty in the sector also raises concerns regarding milk production and the supply chain.
SHOCKWAVE IN THE SECTOR
The concordat decision of Koç Gültekin Süt has created a shock effect in the Turkish dairy and dairy products sector. The financial crisis experienced by the company, which has been operating for over 40 years, serves as a warning for other producers in the sector.