Turkish companies face concordat rulings in Gaziantep and Denizli

Several companies in Turkey's industrial hubs of Gaziantep and Denizli are undergoing concordat processes due to economic challenges, including high production costs and difficulties in accessing finance.

In Gaziantep, the 1st Civil Court of Commerce approved the concordat project for Alg Life Tekstil Sanayi ve Ticaret Anonim Şirketi. Additionally, the court lifted the one-year definitive grace period previously granted to Rens Örme Tekstil, Alg Giyim Dış Ticaret, and Butik Apart Turizm ve Ticaret, along with two of their officials. Sonex Ayakkabıcılık Sanayi ve Ticaret Limited Şirketi has been granted a one-year definitive grace period.

In Denizli, the 1st Civil Court of Commerce issued a one-year definitive grace period for Uğurlu Baskı Boya Dokuma Tekstil Sanayi ve Ticaret A. Ş. and seven company partners, effective from September 22, 2026. A concordat commissioner board has been appointed to manage the process, and creditors have been instructed to register their claims within 15 days of the announcement.