Aynes Gida files for bankruptcy in Turkey
Aynes Gıda, a Turkish dairy company based in the western province of Denizli, has filed for bankruptcy protection due to the financial difficulties it is currently experiencing.
In a statement the company says it applied to a local court in Denizli for bankruptcy protection. Negotiations on a possible partnership are also under way, the statement says.
Aynes produces animal feed and dairy products and was founded in 1997. It was ranked among Turkey’s top 500 companies, and also one of three firms that were allowed to export dairy products to Russia after Moscow banned most food imports from the EU and the US. However, increased production costs and foreign exchange fluctuations, with the Turkish lira down by 20% in one year versus the US dollar.