Beta joins Turkish shoe companies applying for bankruptcy protection

Popular Turkish shoe brand Beta filed for bankruptcy protection on Friday, following other two important shoe companies, Hotiç and Yeşil Kundura, Dünya newspaper reported

The number of Turkish companies applying for bankruptcy protection has grown as the lira dropped more than 40 percent against the dollar this year.

Beta’s CEO Taner İkiışık said in a statement that the company was facing cash-flow problems due to exchange rate volatility. 

Beta also sold foreign brands such Wall Street, Caterpillar, Geox, Arctica, Sebago and Harley Davidson, alongside its own designs, in 50 stores across Turkey.
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