182-Year-Old Çelikerler Çelik Files for Concordat

Çelikerler Çelik, a company with a 182-year history dating back to the Ottoman era, has applied for concordat due to financial difficulties. The company has initiated a legal process to overcome its financial troubles. The court has granted a 3-month temporary respite for the company. During this period, Çelikerler Çelik will work on restructuring its debts and improving its financial situation. Concordat is a legal mechanism that allows a company to avoid bankruptcy and reach an agreement with creditors to create a debt repayment plan. Whether Çelikerler Çelik will succeed in this process will become clear in the coming months. This is not investment advice.