Turkey sees surge in online information services on bankruptcy protection

While the number of Turkish companies filing for bankruptcy production escalates, online social media accounts and websites announcing those companies and providing information on bankruptcy protectional are increasing, Duvar news site reported

Many Turkish firms nowadays are applying to courts to be granted bankruptcy protection, due to short-term cash inflow problems related to the slide in Turkish lira and the recent hikes in interest rates.

Bankruptcy protection allows time for firms to restructure their debts, without going bankrupt. 

A Twitter account named “Bankruptcy Protection Notifications” shares daily on social media the names of the companies who submit files for bankruptcy protection.

A web-site named iflaserteleme.com also provides information on companies filing for bankruptcy, while at the same time sharing basic information on the procedure of bankruptcy protection in order to guide companies.