# Textile company bankruptcies in Bursa

> Live situation record from CLSTR: https://clstr.news/situations/textile-company-bankruptcies-in-bursa
> Updated: 2026-08-21T05:56:00.000Z. Sources: 6. Developments: 2.

Multiple long-standing textile companies in Bursa, Turkey, have entered liquidation following failed attempts to resolve insolvency through concordat processes.

Güzeldağ Tekstil, a company established in the 1960s, entered liquidation after a court rejected its concordat request and ruled the firm insolvent. The Bursa Bankruptcy Office has initiated ordinary liquidation methods, with a creditors' meeting scheduled for September 2026.

Similarly, BBX Baby Kids Tekstil, which has operated in the children’s clothing sector since 1965, was declared bankrupt by the Bursa 2nd Civil Court of First Instance. The company was unable to rectify its financial structure during a concordat process that began in May 2026. The court terminated the duties of the board of commissioners and commenced liquidation for the exporter, which previously shipped products to 24 countries.

## Timeline

### 2026-08-21: BBX Baby Kids Tekstil declared bankrupt in Bursa

BBX Baby Kids Tekstil, a 61-year-old textile company in Bursa, Turkey, has been declared bankrupt after failing to recover during a concordat process.

3 sources. https://clstr.news/cluster/bbx-baby-kids-tekstil-declared-bankrupt-in-bursa

### 2026-08-14: Güzeldağ Tekstil enters liquidation after bankruptcy ruling

Güzeldağ Tekstil, a 66-year-old textile company in Bursa, Turkey, has entered liquidation after a court rejected its concordat request and ruled the firm insolvent.

3 sources. https://clstr.news/cluster/gzelda-tekstil-enters-liquidation-after-bankruptcy-ruling

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Cite as: Textile company bankruptcies in Bursa. CLSTR, https://clstr.news/situations/textile-company-bankruptcies-in-bursa