ÖR-KOOP agricultural cooperative files for concordat

The Nazilli and Surrounding Agricultural Development Cooperative (ÖR-KOOP), which has operated since 1979, has filed for concordat to restructure its financial obligations. Following a court decision on October 21, 2026, a temporary moratorium was granted and a concordat commissioner was appointed to oversee the process.

The cooperative's current management reported that upon taking office in July 2025, the organization faced total liabilities of 431 million lira. This figure included 190 million lira in bank loans, 151 million lira in checks, and approximately 90 million lira owed to producers. Despite efforts to reduce bank debt to 176 million lira and paying 107 million lira in checks during the first two months, the financing burden remained unsustainable.

Management cited several constraints, including the fact that all cooperative real estate is mortgaged and certain properties are subject to long-term lease restrictions. The current administration aims to use the concordat process to ensure the continuity of operations, protect the rights of creditors, and fulfill all outstanding payments to producers while maintaining regular payments for new milk deliveries.