14.04.2026 08:20
HK Kundura, the continuation of Yeşil Kundura, which has been operating in Turkey since 1948, has gone bankrupt after failing to emerge from the concordat process.
HK Kundura, operating as the new structure of Yeşil Kundura, one of the established brands of Turkey's shoe sector, could not overcome the economic bottleneck it experienced. The Istanbul Anatolian 2nd Primary Commercial Court evaluated the company's concordat application and issued a bankruptcy decision.
CONCORDAT PROCESS DID NOT YIELD RESULTS
HK Kundura had started to continue its operations in 2025 with its new title formed from the initials of its Chairman of the Board, Hüseyin Kızanlıklı. However, the company applied for concordat due to increasing financial pressures. The court initially granted the company a three-month provisional period, then extended this period by two more months. Despite this, the company could not resolve its financial difficulties, and the process resulted in bankruptcy.
MAJOR COLLAPSE BASED ON YEŞİL KUNDURA'S PAST
Yeşil Kundura, operating with numerous franchise stores across Turkey, had previously declared concordat in 2018. At that time, the court had placed the company under protection and halted new seizure procedures. The company announced in December 2023 that it had completed the concordat process and restored its financial structure.
The brand, founded in 1948 by the Yeşil Brothers in a small workshop, had become one of the important players in the sector over the years. However, the economic difficulties experienced recently led to the inability of the established brand to continue its operations.
CREATED AN IMPACT IN THE SECTOR
The bankruptcy of HK Kundura was among the notable developments in the domestic shoe sector, particularly. Despite the brand's long-standing history, the company's inability to stay afloat brought the economic pressures in the sector to the agenda once again.