Historic 182-Year-Old Company Founded in Ottoman Era Files for Concordat
Established during the Ottoman era and currently running projects in 12 countries, Bartin-based Çelikerler Steel and Celtaş Logistics have declared bankruptcy protection. The fate of the company, which was founded in 1844, will be determined in July.
The company, established during the Ottoman era, has filed for bankruptcy protection.
Founded in 1844 and becoming a global player in 2003, Çelikerler Steel was operating in a wide geography stretching from Germany to Qatar, from Iceland to South Africa. The company, which produced in giant facilities covering 25,000 square meters in Bartın, was not only a significant part of the local economy, but also stood among the deep-rooted representatives of Turkey's iron and steel exports.
The company, which was established during the Ottoman era, ran into a financial crisis. A temporary three-month respite was granted for the company that declared bankruptcy protection. During this period, the giant organization, which was legally protected against creditors, was assigned a two-person expert bankruptcy protection commissioner committee by the court.
Whether the company will go bankrupt or not will be determined on July 9th.
The hearing, in which the financial structure of the company will be scrutinized and its ultimate roadmap for the future will be outlined, is set to take place on July 9th. Following this development, which has sent shockwaves through the industry, there is widespread curiosity about how this centuries-old giant will conduct its operations based on the decision that emerges from the July hearing.
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