30.09.2025 10:03
The global economic crisis has led to the bankruptcy of many companies in Turkey, with the latest addition being EGM Giyim. The giant textile company, unable to overcome its financial difficulties, has declared concordat.
Many companies in Turkey continue to close their doors due to the effects of the rapidly escalating global economic crisis.
GIANT COMPANY ANNOUNCED BANKRUPTCY PROTECTION
EGM Clothing Industry and Trade Limited Company, which operates in Bingöl, announced bankruptcy protection due to its financial difficulties.
"A TEMPORARY STAY OF 3 MONTHS HAS BEEN GRANTED"
In the announcement published by the Bingöl 4th Civil Court of First Instance; "A temporary stay decision has been granted for a period of 3 months starting from 25/09/2025 regarding the plaintiffs Cemal Erdoğan (T.C. 47***62) and EGM Clothing Industry and Trade Limited Company (Tax No; 3251156155),
"2 NAMES APPOINTED AS TEMPORARY COMMISSIONERS"
In order to closely examine whether the bankruptcy protection can be successful, in accordance with Article 287/3 of the Turkish Commercial Code amended by Law No. 7101; considering the number and amounts of receivables in the tables submitted by the plaintiffs, it has been appointed as temporary commissioners; Financial Consultant Bayram Keskin and Burhan Arıkız,
"A 7-DAY OBJECTION PERIOD HAS BEEN GRANTED"
It was also announced that creditors can object to the court file with a petition within a definitive period of 7 days from the announcement, stating that there is no situation requiring the granting of bankruptcy protection, along with their evidence, and in this context, they may request the court to reject the bankruptcy protection request.