Alves Kablo files for concordat following 1 billion TL asset seizure

Alves Kablo Sanayi ve Ticaret A. Ş. has filed for concordat to restructure its debts and stabilize its financial structure. The company announced via the Public Disclosure Platform (KAP) that the application was submitted to the Ankara Batı 1st Civil Court of First Instance.

The company stated that it has ceased commercial operations as of August 2026. This move follows significant legal actions, including the seizure of assets totaling 1 billion 62 million Turkish Liras by various individuals and institutions through enforcement proceedings.

Following the announcement of these seizures, Borsa İstanbul moved Alves Kablo shares to the Monitoring Market. Trading was temporarily suspended on September 9, 2026, before resuming on September 10 under the new market designation. The company previously noted that despite the seizures, its machinery remained operational and no decisions had been made regarding the sale of the seized assets.