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A POPULAR TOURIST CARRIER HAS GONE BANKRUPT IN TURKEY
A POPULAR TOURIST CARRIER HAS GONE BANKRUPT IN TURKEY
One of the popular transport carriers operating in the Turkish market was declared insolvent. The company Varan Turizm received this status on November 30, but the information about it was made public by the Turkish media only now.
The organization has been engaged in bus transportation of tourists since 1946. The company was one of the first in the country to offer tourists comfortable vehicles, starting transportation between Istanbul and other cities. The organization differed from its competitors in one of the best positions in terms of price and comfort.
Until 2017, the company had good economic indicators. Then the firm began to be controlled by banking structures. Varan Grup Turizm has already received business management from them. It was founded in 2019 by entrepreneurs from Ankara Kemal Soganji and Fatih Islam.
Apparently, the company has not been able to overcome the negative consequences of the pandemic and solve its problems. The court in Bakyrkey (Istanbul district) declared the company insolvent. It is reported that the company continues to function for the time being, although it will be liquidated later.
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