Turkiye's massive dairy brand Kay files for bankruptcy

Kay Süt, whose foundation was laid in the 1970s, changed hands after the death of its founder Kemal Ayhan. The new owner of the giant facility became Ankara-based Yıldızlar SSS Holding.

However, after the transfer to the aforementioned group, the company entered a financial bottleneck. The sale of the company's factory located in Altıeylül District of Balıkesir, which requested a concordat, made news.

AUCTION ON JULY 16

According to ekonomim news publication, Garanti Bank, the creditor, requested the sale of the Kay Süt factory, which appears to belong to Mar Consumer Goods, from the execution office. According to the sales file of Balıkesir 4th Executive Directorate, a price of 668 million TL was determined for the facility built on an area of 34 thousand 432 square meters. The auction for the sale of the facility will be held on July 16.