Türkiye's food export giant is going through difficult times! It's facing bankruptcy.
Due to economic volatility and high input costs for businesses, small, medium, and large companies are filing for bankruptcy every week; the latest application came from a food giant...
Çiloğlu Gıda, one of Türkiye's exporting companies, declared bankruptcy due to financial difficulties.
The Istanbul Anatolian 3rd Commercial Court of First Instance has issued a 1-year definitive grace period for the concordat request, which also includes the company partners.
The court also ruled that the precautionary and commissioner duties during the temporary respite period will continue in the same manner.
It was decided that the commissioners would prepare a detailed report every three months and submit it to the court.
EXPORTS TO 18 COUNTRIESAccording to the information on the company website, Çiloğlu, which has been operating in the food sector since 1996, exports to a total of 18 countries in Europe, primarily Germany, the Netherlands, Belgium, Austria, France and Switzerland.
The company has dozens of different product groups and more than 700 product types.
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