Turkish food industry giant files for bankruptcy protection, reports suggest

One of Türkiye’s leading dried fruit and nut brands, Peyman, has filed for “concordato”, a form of bankruptcy protection, due to financial difficulties.

Peyman, a well-known company in the Turkish food industry, is seeking to restructure its debts and stabilize its finances amid rising costs and market fluctuations that have negatively impacted its financial balance, Turkish media reports.

Despite efforts to maintain financial sustainability after being acquired by Is Holding in 2022, Peyman has faced mounting economic challenges.

While the concordato application process is ongoing in Istanbul, a similar request for the company’s headquarters in Eskisehir was rejected due to jurisdictional reasons.

Founded in 1995, Peyman has been a strong player in the dried fruit and nut sector, but the recent economic pressures have taken a toll on its operations.

Analysts suggest that the concordato process will be a crucial step in restructuring and debt management. Meanwhile, concerns are growing that this financial turmoil could lead to job losses within the company.