16.03.2026 11:24
The Bakırköy Commercial Court has declared bankruptcy for Gama Alliance Fabric Industry, one of Turkey's leading fabric manufacturers; as the concordat process has ended, the company's liquidation proceedings have been initiated.
Gama Alliance Fabric Industry, one of the important manufacturers operating in the textile sector in Turkey, went bankrupt after failing to overcome its financial difficulties. The Bakırköy Commercial Court of First Instance decided to terminate the concordat process initiated against the company and declared its bankruptcy.
THEY COULDN'T OVERCOME THE FINANCIAL CRISIS
The decision regarding the company, which has been operating in the textile sector since 2015 and stands out with its strong market share, was announced at the hearing held on March 12, 2026. The court ruled that the company could not escape the financial crisis it was in.
With the court's decision, the bankruptcy process was officially initiated for Gama Alliance Fabric Industry and the Northstr Textile Clothing companies within the group.
PROTECTIVE MEASURES LIFTED
Following the bankruptcy decision, the previously appointed concordat commissioner board was dismissed. While all court protective measures on the company were lifted, it was reported that the liquidation process would be conducted according to the ordinary liquidation procedure. The process, which includes the sale of the company's assets and payments to creditors, was transferred to the Bakırköy Duty Bankruptcy Directorate.