Two leading players in Turkey’s textile and apparel industry have officially declared bankruptcy, raising concerns about the resilience of one of the country’s most vital export sectors.
Lider Cansu Tekstil, based in Tekirdağ, which had previously applied for concordat (a legal framework to restructure debt), saw its request rejected by the court. Consequently, the company and its affiliate Asia Moda Tekstil have now entered liquidation.
In a parallel development, Istanbul-based Sars Tekstil has also been declared bankrupt, with the court lifting all previous protective measures.
Industry experts point to rising production costs, declining global demand, and difficulties in accessing financial resources as the main drivers of these failures.
As Turkey remains a key hub in the global textile supply chain, these bankruptcies highlight mounting challenges and could have significant implications for both regional competition and international sourcing strategies.
