14.10.2025 09:53
The global economic crisis has led to the bankruptcy of numerous companies, with the latest addition to the list being Istanbul-based 3F Tekstil. The liquidation process has begun for the firm, which produces for global giants like Zara and Bershka. A company official stated, "Companies have started to struggle with managing their debts."
3F Textiles, based in Istanbul, has become the latest link in the chain of bankruptcies in Turkey. The company, which declared concordat last year and received one year of bankruptcy protection, has had the mandate of the concordat commissioner committee terminated. With the court ruling, all measures have been lifted, and the company has been officially declared bankrupt. Thus, the liquidation process for 3F Textiles has officially begun.
"COMPANIES HAVE STARTED TO STRUGGLE WITH DEBT MANAGEMENT"
3F Textiles, which requested concordat due to financial difficulties last year, was unable to recover due to the impact of high interest rates.
A company official speaking to Reuters highlighted the economic pressure with the following words: "When interest rates suddenly reached 60-70%, it became a situation that the business world could not bear. Companies have started to struggle with debt management."
PRODUCING FOR GLOBAL GIANTS
3F Textiles had been producing for international brands such as Zara, Bershka, Next, LC Waikiki, Mango, and Resort for years. In addition to its headquarters in Istanbul, the company also had a branch in Barcelona, Spain. However, the global demand contraction, currency pressure, and rising financing costs have made the company's financial structure unsustainable.