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- October 15, 202616°
- BIST10012,118-1.08%
- USD49.39+0.05%
- EUR55.30+0.16%
- GOLD4,158.70+1.24%
- INTEREST37.00%-1.00
- BITCOIN81,103-0.58%
- October 15, 202616°
Zorlu Group files for financial restructuring for Vestel and textile group
Zorlu Holding has filed for financial restructuring with banks to strengthen the financial structure of Vestel and its textile group companies. The group announced that the application aims to strengthen working capital, extend loan repayment periods and balance costs.
Zorlu Group has filed for Financial Restructuring (FYY) by reaching an agreement with banks to strengthen the financial structure of its subsidiaries Vestel and the textile group companies.
In a statement from the group, it noted that the application aims to strengthen working capital, extend the repayment period for maturing loan debts, balance costs and increase operational flexibility.
Ahmet Zorlu, Chairman of the Board of Zorlu Holding, pointed to the importance of a strong balance sheet and operational flexibility during a period of global economic fluctuations and geopolitical risks. "This process is a planned step taken toward creating a healthier financial structure and strengthening our operations," Zorlu said.
Ahmet Zorlu emphasized that the group maintains strong performance in the energy and real estate sectors, while on the industrial side it preserves its competitiveness through efficiency and technology-focused practices. Recalling that Vestel has been the export champion for 28 consecutive years, contributing to Turkey's exports, Zorlu noted the group's ability to withstand the stagnation in the European market and competitive pressure from Chinese firms.
"Our energy portfolio is entirely based on renewable sources and we are growing with new investments. While generating steady income in real estate, all these steps support our long-term goals," Zorlu added.
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