Vişne Tekstil enters concordat process amid textile sector pressures

Vişne Tekstil Sanayi ve Ticaret A.Ş., a major Turkish textile manufacturer, has entered a concordat process following financial difficulties. The Istanbul 16th Civil Court of Commerce has granted a one-year definitive grace period for the company and its partners, Fatih İsmet Kılıç and Levent Yaşarlar, effective from September 16, 2026.

Founded in 2009 and operating out of an integrated 6,800 square meter facility in Avcılar, Istanbul, the company specializes in denim and woven apparel for men and women. Vişne Tekstil serves a high-profile international client base, including ASOS, Next, Otto, Bon Prix, and Buena Vista, primarily exporting to the United Kingdom and Germany.

The company employs 550 people and reports an annual turnover of approximately £20 million, with a monthly production capacity of 150,000 units. The financial crisis is attributed to broader sectoral pressures, including rising labor and energy costs, high financing expenses, currency fluctuations, and a decrease in global demand for exports to Europe.