The bankruptcy queue is getting longer every day
Bankruptcy filings rose 162.6% in June, with 541 new companies joining the queue. In six months, 2,776 more companies joined the queue.
Numerous businesses, from small to large, are struggling to stay afloat amid economic downturn and cash flow issues. Difficulties in accessing finance, rising costs and declining demand are driving companies to seek bankruptcy protection. Between January and June, 2,776 companies filed for bankruptcy protection. The number of cases granted a temporary stay of bankruptcy by the courts reached 1,259 as of June. Bankruptcy rulings were issued for 96 companies.
According to data from Konkordatotakip.com, June was the month with the highest number of bankruptcy filings since the beginning of the year. Bankruptcy filings increased by 162.6% compared to the same month last year, with a total of 541 new cases opened. Of these cases, 292 were granted provisional moratorium decisions. 132 were granted final moratorium decisions, while 91 were rejected. 19 companies were declared bankrupt and 7 cases were approved.
CONSTRUCTION AND TEXTILE INDUSTRIES COMPETE
In 2018, when bankruptcy postponement was lifted, the number of provisional moratorium decisions, which is the first stage of the concordat, was 1,384, while this number reached 519 in 2023 and 1,723 in 2024. With 1,259 provisional moratorium decisions in the first six months of 2025, a new record is expected by the end of the year.
The sectors that most frequently applied for bankruptcy protection were construction, textiles, and metal industries. Since 2018, 475 construction companies, 298 textile companies, and 105 metal product manufacturing companies have received final moratorium decisions. There has also been an increase in bankruptcy protection applications from companies in the food, furniture, and hospitality sectors.
REFLECTED IN UNPAID CHEQUES
In addition, the tendency to default on debts has led to an explosion in unpaid cheques and protested bills. According to data from the Risk Centre, 108,161 cheques were presented to banks and found to be unpaid between January and May this year. During this period, the number of dishonoured cheques increased by 11.8%, while their monetary value increased by 42.5% to 81.8 billion lira. The number of individuals whose cheques were dishonoured at different times and on multiple occasions, calculated as a single individual, reached 16,442.
During the same period, the number of bills protested by banks for non-payment at maturity increased by 29.9 per cent compared to last year, reaching 113,690, while the monetary value of these bills increased by 136 per cent, reaching 33.1 billion lira.
Note: This article is translated from the original article titled Konkordato kuyruğu her gün uzuyor, published in the BirGün newspaper on 5 July 2025.
