YD Dokuma, a notable manufacturer and exporter of carpets, rugs, and mats based in Türkiye, has officially been declared bankrupt following the conclusion of a months-long concordat process.
The Kayseri 1st Commercial Court of First Instance announced on March 19, 2025, that it had rejected the company’s request for definitive respite and concordat protection. All temporary precautionary measures and the duties of the concordat commissioners were lifted, and the bankruptcy of YD Dokuma İthalat İhracat Sanayi ve Ticaret A.Ş. was formally declared.
The court’s decision came after a 3-month temporary respite granted on October 30, 2024, which was later extended by an additional 2 months in a last effort to allow the company to restructure its debts. However, with the latest ruling, all protections related to the concordat have been removed, and the company’s bankruptcy was officially opened at 14:37 on March 19, 2025.
YD Dokuma, listed under registration number 51711 with the Kayseri Trade Registry, had been struggling amid challenging market conditions and growing financial difficulties. The bankruptcy decision mandates the formation of a bankruptcy estate and the issuance of official announcements, with all related actions to be managed by the Kayseri General Enforcement Bankruptcy Office.
This development marks a significant setback for Türkiye’s textile and carpet sector, where several firms have been under pressure due to rising costs, currency fluctuations, and global demand shifts. YD Dokuma had been a player in both domestic and international markets, and its exit reflects the broader financial strain affecting some segments of the industry.
The bankruptcy announcement will be officially published in accordance with Turkish insolvency laws (IIK 299 and IIK 288), alerting creditors and stakeholders to the court’s final decision.
