Two Turkish industrial manufacturers declared bankrupt

Two major industrial manufacturers in Türkiye have been declared bankrupt following the rejection of their concordat applications.

In Konya, the 2nd Civil Court of Commerce ruled for the bankruptcy of MS Dorse Treyler ve Ekipmanları Sanayi ve Ticaret Limited Şirketi. The company specialized in the production of trailers, semi-trailers, and machinery for sectors including agriculture, transportation, and recycling. Following the ruling, the company's concordat commissioner's duties have ended, and a bankruptcy desk has been established under the Konya 1st Enforcement and Bankruptcy Directorate.

In İzmir, the 1st Civil Court of Commerce issued a bankruptcy decision for Yücelen Vinç Makine Otomasyon Tarım Hayvancılık Sanayi ve Ticaret Limited Şirketi. Founded in 2016, the company produced various lifting systems, including crane systems with capacities ranging from 0.25 to 250 tons. The firm had an export network spanning 21 countries, including the US, Germany, Russia, and several nations in the Middle East. The İzmir Bankruptcy Directorate has initiated liquidation proceedings, and creditors have one month to submit their claims.