Bursa-Based Karataş Group Enters Concordat Process Amid Financial Struggles

One of Bursa’s most established industrial firms, Karataş Group, has officially entered the concordat process due to severe financial difficulties. Once celebrated as a top taxpayer in Bursa and a leader in the steel, logistics, and manufacturing sectors, the company has now been granted a three-month temporary protection order by the Bursa 1st Commercial Court of First Instance.

Founded 67 years ago, Karataş Group operates under a wide industrial portfolio including:

• Karataş Demir Çelik

• Karataş Sac Boru

• Branches in Gebze and İzmir

• Karataş Steel Service Center

• Logistics and Warehousing

• Machinery Manufacturing Units

Despite its extensive reach and influence, the group was unable to overcome its mounting financial woes and subsequently filed for legal protection under Turkey’s concordat law.

The court appointed a three-member board of concordat commissioners to oversee and assess the company’s financial restructuring.

Recent Honors Contrast with Crisis

Ironically, just four months prior, Karataş Group was honored as the “Environmental Sector Leader” at the 49th “Value Creators in the Economy” Awards, highlighting its reputation for responsible industry leadership. Its position as a top taxpayer in Bursa further underscores the depth of the current crisis.

The fall of such a prominent firm underscores the broader economic pressures facing Turkish industrial players, especially in capital-intensive sectors like steel and logistics.