Turkey's 121-Year-Old Tea Producer Declares Bankruptcy

Tirebolu 42 Çay Gıda Pazarlama Sanayi ve Ticaret AŞ, a Turkish tea producer with a history dating back to 1905, has officially declared bankruptcy due to persistent financial problems. The company, a long-standing brand in the Turkish market, faced a bankruptcy ruling from the Tirebolu 2nd High Commercial Court on May 14, 2026.

The court's decision initiated an ordinary liquidation process managed by the Tirebolu Enforcement Office. The ruling specified the bankruptcy date as May 14, 2026, at 1:52 PM. Creditors and parties claiming rights over the company's assets have been instructed to submit their claims with necessary documentation to the Enforcement Office within one month from the announcement date.

Similarly, individuals or entities indebted to the company or holding its assets are required to report their situation to the Enforcement Office within the same one-month period. The first creditors' meeting is scheduled to take place at the Tirebolu Enforcement Office on July 30, 2026, at 2:00 PM as part of the bankruptcy proceedings.