182-Year-Old Industrial Giant Files for Concordat

Çelikerler Çelik and its subsidiary Celtaş Lojistik, whose industrial roots trace back to 1844 during the Ottoman era, have applied for a concordat (debt restructuring) due to mounting financial difficulties. The Bartın 3rd Civil Court of First Instance has granted the companies and their partners a three-month temporary grace period to reorganize their finances.

Three-Month Legal Protection Granted

To oversee the process and monitor the company’s financial integrity, the court has appointed a two-person board of concordat commissioners. This legal “shield” protects the company from debt collection actions while it attempts to stabilize its balance sheet. A critical hearing that will determine the firm’s future is scheduled for July 9, 2026.

A Legacy Spanning Nearly Two Centuries

The history of Çelikerler is a reflection of the region’s industrial evolution:

• Origins (1844): The business began as a traditional blacksmithing operation in the village of Kumluca in Bartın.

• Modernization (2003): The family business was officially incorporated and eventually expanded into a 25,000-square-meter production facility.

• Global Footprint: Before the recent financial strain, the company saw rapid expansion, completing major structural projects in 12 countries, including Germany, Spain, Qatar, Iceland, and South Africa.

The struggles of such a long-standing institution highlight the ongoing pressures within the industrial sector as companies navigate high operating costs and shifting market dynamics.

Source: halktv