28.11.2025 15:25
Due to the impact of the global economic crisis, a large number of companies in Turkey have declared bankruptcy, with the latest addition being the industrial giant Hitit Seramik. A bankruptcy decision was made for Hitit Seramik AŞ and Beril Seramik Hammaddeleri AŞ, which applied to the court with a request for concordat. The precautionary measure that was imposed on the company, which went bankrupt with a debt of 1.5 billion lira, has also been lifted.
Founded by İbrahim Hızal nearly 40 years ago, Hitit Seramik AŞ faced serious financial difficulties at the beginning of this year. After Hızal's passing in 2017, the management of the company was transferred to his wife Sevgi Hızal and their daughters Beril Hızal and Eylül Nehir Hızal. However, the family business was unable to overcome the financial crisis it faced.
CONCORDAT PROCESS DID NOT MEET EXPECTATIONS
As the financial bottleneck deepened, İbrahim Hızal Holding AŞ, Hitit Seramik AŞ, and Beril Seramik Hammaddeleri AŞ, along with shareholders Sevgi Hızal, Beril Hızal, and Eylül Nehir Hızal, filed for concordat. According to a report by Dinçer Gökçe from Halk TV, the Istanbul 1st Commercial Court evaluated the application and granted the companies a 3-month temporary respite. During this period, the companies were protected against seizures. However, the expected improvement did not occur. While a profit of 92 million lira was projected for 2025, a loss of 72 million lira was recorded in the first four months of the year.
COURT DECLARES BANKRUPTCY
In a hearing held yesterday, the court issued a bankruptcy decision for Hitit Seramik AŞ. It was determined that the company's debt is approximately 1.5 billion lira. A bankruptcy decision was also announced for Beril Seramik Hammaddeleri AŞ in the same case.
PROTECTION LIFTED FOR FAMILY MEMBERS
The court also lifted the temporary respite decision given to İbrahim Hızal Holding AŞ and Sevgi Hızal, Beril Hızal, and Eylül Nehir Hızal. With this decision, the mentioned company and family members became unprotected against seizures.