3F Textile, which produces for global giants, went bankrupt

Istanbul-based 3F Tekstil has also joined the bankruptcy ring in the textile sector.

The company, which received one-year bankruptcy protection last year, had its composition commissioner's duties terminated and the previously implemented precautionary measures were lifted.

Thus, the liquidation process began for the company, which was declared bankrupt on the grounds that it could not pay its debts and improve its financial structure.

'THE BUSINESS WORLD PAID THE PRICE FOR DISTURBED INFLATION'

The company declared bankruptcy last year, unable to overcome the financial difficulties it faced.

Speaking to Reuters after the financial crisis, a 3F official said, "When interest rates suddenly reached 60-70%, this became a situation the business world could not bear. Companies began to lose their ability to manage their debt. The business world paid the price for Türkiye's perverse inflation."

The company, which worked for giant brands such as Zara, Bershka, Next, LC Waikiki, Mango and Resort, had branches in Istanbul and Barcelona.