While the June inflation table and civil servants and pension hikes were discussed, the concordat and bankruptcy data for the first 6 months of 2024 and 2025 revealed dramatic changes in the markets. The current table is an indication that many companies are struggling with serious problems in cash flow and that there is difficulty in debt payments. In the first half of 2024, the number of companies declared as concordat was recorded as 605, while in the same period of 2025, this number increased by 108 percent to 259 thousand. Another detail that attracts attention in the data that emerged is the 227 percent rise in the number of companies in which the courts decided to respond to the courts. The definitive respite is known as the long and binding protection process of a court to configure company debts. In 2024, the number of companies that received a precise respite attracted attention as 251, while this rate increased to 822 in the first half of 2025. On the other hand In the number of bankruptcy companies, the figure, which was 48 in the first half of 2024, increased by 100 percent to 96 in the same period of 2025.
Applications decreased
One of the interesting paintings was the concordat applications, that is, the demands of the companies’ debt configuration demands were not accepted by the courts. Applications in which 275 companies were rejected in 2024 increased to 553 in 2025, while an increase of 101 percent drew attention. If analysts are high, they interpret the rejection rate that some companies do not meet the application requirements, that their financial situation is unsustainable or the courts are more strict control.
“Relaxation in 2026”
Dramatic increases in concordat and bankruptcy are not only company -based problems; It is stated that the structural and short -term problems experienced in the Turkish economy also pointed out, economist Özlem Derici Şengül, interpreting the reasons for the increase in the number of concordat and bankruptcy, “The relief in the markets will only be felt in 2026,” he said.
Finance problem
Şengül pointed out that most of the enterprises had great difficulties in capital creation, cash flow management and financing in the last 2 years.The high financing costs and the side effects of the fight against inflation have caused companies that spend this period with unprepared or insufficient financing to fall into a difficult situation. The textile sector is going through a separate troubled period due to its lagging behind in international competition and transporting its operations abroad. The high financing costs in other sectors led to both the melting of capital and a decline in profitability. “
“We will be forced this year”
“In the coming period, if the Central Bank starts interest rate cuts and inflation continues to decline, From 2026 onwards, we will see relaxation on the financing side. However, in the short term, we do not expect a significant decrease in the concordat and bankruptcy rates of the enterprises.. However, I do not foresee that an acute crisis will emerge. The reliefs in financing costs will be more felt in 2026. Unfortunately, the second half of the year will continue to pass challenging. “
Dependence on imports
Volkan Soykan, the business and marketing expert who evaluates the resulting data, draws attention to increased import dependence; “In the first half of 2025, Türkiye’s exports increased by 4.1 percent to 131.4 billion dollars, but the foreign trade deficit was approximately 8.2 billion dollars with an increase of 38.8 percent. When combined with the exchange rate fluctuations, it increases the costs of companies, increases the costs of borrowing and deepening the financial congestion,” he said.
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