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20 Turkish Companies That Were Once Giants But Ended Up Bankrupt #Part 2

  • August 20, 2024
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The business world is nothing but a battlefield where competition is at its peak. For this reason, just as there are companies that make a name for themselves

20 Turkish Companies That Were Once Giants But Ended Up Bankrupt #Part 2

The business world is nothing but a battlefield where competition is at its peak. For this reason, just as there are companies that make a name for themselves with their success and make huge profits, there are also companies that fight in this war. reported companies There is also.

The Turkish business world is no different. Many big Turkish brands, once widely mentioned, could not continue their fight for various reasons. must cease its activities stayed.

of this content first part you can find it below. If you came for the second part, let’s take a look at the companies that died.

Let’s start with Bimeks, who eliminated all his competitors one by one. He is also one of the losers of the trade war!

bimeks

Bimeks, which started its business life in a small shop in 1989, quickly grew into a One of Turkey’s leading technology retailers He managed to become one.

Even almost by buying up all its competitors He absorbed them into his body and eliminated them one by one.

However, the economic and political uncertainties in 2016 caused the company to take the step greater financial difficulties As a result, the company was no longer able to pay its debts.

When attempts to restructure debt and find a partner for the company failed, Bimeks decided close their shops one by one started.

In 2021, bankruptcy was declared and with it Bimeks 32 years of commercial travel ended.

Let’s move on to Istanbul Bilisim, who passed away amid allegations of fraud.

Istanbul IT

Istanbul Bilisim will provide thousands of services in 2020. By not delivering the customer’s products He created a huge sensation by committing a huge fraud.

After increasing complaints from customers who were unable to receive their products, the company declared a concordat, but this request was rejected by the court and bankruptcy decision was made.

After investigating the company, it turned out to be a shell company. tax evasion and qualified fraud by also came forward.

A lawsuit was filed against Nurettin Yavuz, the owner of Istanbul Bilişim, on charges of aggravated fraud and Yavuz’s misuse of the company’s financial situation and millions of liras. illegal transfers It was established that he did so.

Biesseci, founded by Galatasaray’s legendary president Özhan Canaydın, also went bankrupt in a turbulent manner.

Biesecci

Biesseci, founded by Özhan Canaydın, is a successful company producing for global brands. It was a textile factory.

However, after Canaydın’s death in 2010, when his son took over the company, exchange rates and rising costs As a result, the company began to experience financial difficulties.

in 2014 The bankrupt company made victims of its employees and creditors.

So that the bankruptcy process is fraudulent Even his claims received media attention.

Aycell, founded as a local and national operator, was one of those who failed to survive in its sector.

Aycell dealer

Founded in 2001 Aycell struggled to compete with its rivals due to issues such as late market entry and inadequate infrastructure.

In addition fake subscriptionsSituations such as undeliverable invoices and financial losses left Aycell in an inextricable quagmire.

Moreover Lack of roaming agreements This was a major problem for users and was one of the main factors why Aycell was not preferred.

At the end of it all, In 2004, Aycell merged with Aria It continued its existence under the Avea brand name and then joined Türk Telekom in 2006.

Panda, who we know from his ice creams, is also among those who passed away peacefully.

panda ice cream

Panda, founded in 1984 and grown to be one of the most popular ice cream brands in Turkey, is a brand like Algida. It competed with the world giant.

Although she continues this competition to some extent with success, various setbacks and competitive pressure It was taken off the market due to

Both the legal issues regarding trademark registration and Algida’s aggressive marketing strategies caused Panda to lose its market share. He left us in silence.

“Is that all?” you may ask. Let’s look at other companies that have been declared bankrupt:

  • golden electronics
  • Tatil.com
  • Arrow shoes
  • vacation
  • Turkish oil
  • drink
  • dance
  • simple
  • Cheap market
  • Diasa
  • yarmulke
  • Macro market
  • Real market
  • Karakaş Atlantis Jewelry
  • Atac construction

In short, many of our brands that were doing well in their time have ceased operations in one way or another. that you left us we see.

While it is sad to see our great companies and brands leave us, the nature of business means that this competition has a winner and a loser. After all, entrepreneurship is a zero-sum game…

Our other content about Turkish companies:

Source: Web Tekno

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