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Thursday, 8 October 2026dailybeirut.com
Miscellaneous
Turkish food giant Taban Gıda was declared bankrupt by an Istanbul court following the rejection of its concordat moratorium request.
An Istanbul commercial court has ordered the bankruptcy of Taban Gıda Dış Ticaret AŞ, a major Turkish food trading firm, after rejecting its application for a definitive moratorium under concordat proceedings. The ruling, issued by the 1st Commercial Court of First Instance, also terminated the temporary protection period and lifted associated precautionary measures previously granted to the company and Aras Demir.
The judicial decision concluded the legal process initiated earlier in the year. Alongside declaring the bankruptcy, the court dismissed the Concordat Commissioner Board from its duties. The liquidation of the company’s assets will now proceed under file number 2026/17, as announced by the Istanbul 2nd Bankruptcy Directorate.
Financial difficulties at Taban Gıda first surfaced during the summer months of 2026. On July 9, 2026, the same court had granted a three-month temporary moratorium covering both Taban Gıda and Aras Demir. However, during the hearing held on October 1, 2026, judges denied the subsequent request for a definitive moratorium, leading directly to the insolvency declaration.
Founded in 2016, Taban Gıda rapidly ascended the ranks of Turkey’s largest corporations. The company entered the Fortune 500 Türkiye list in 2019 at position 183, climbing to 142 in 2020 and reaching its peak rank of 130 in 2021. That year, the firm reported revenues exceeding 4.5 billion TL.
In later years, the company maintained its presence in major business rankings. By the 2024 Fortune 500 Türkiye edition, it held the 170th spot, while appearing at number 248 on the Capital 500 list. Data from Capital 500 indicated that Taban Gıda surpassed 12.5 billion TL in revenue during 2023, recording pre-tax profits of 13.3 million TL.
Amid rising freight costs and global logistical challenges during the pandemic, Taban Gıda invested heavily in maritime assets to support its grain trade operations. Its parent entity, Vivalon AG, purchased a Japanese-built dry bulk carrier with a capacity of 42,648 DWT in 2021 for $9 million.
The fleet subsequently expanded with the acquisition of a second vessel, an Italian-made dry bulk carrier rated at 7,550 DWT, for $5 million. The company later announced the addition of a third ship to its operational inventory.
Taban Gıda primarily engaged in the supply and transit trade of wheat, corn, barley, soybeans, oilseeds, and feed raw materials. Previous statements from the company highlighted its significant role in national commodity flows, claiming responsibility for approximately 20% of Turkey’s total wheat imports. Furthermore, the firm asserted that it managed more than 1% of the global wheat trade volume.
