Dairy producer Aynes Gida Sanayi sought to postpone bankruptcy and failed to make a payment on a bond, as Russian President Vladimir Putins economic sanctions on Turkey claimed their first high-profile corporate victim.
Ayness application to delay insolvency is part of its plan to suspend repayment of bank debt, according to Eren Yazicioglu, the Denizli-based companys financial coordinator. The private company, which won a national tender to distribute milk to Turkish schoolchildren, missed a 1.83 million lira ($621,000) payment on a 50 million lira bond on Tuesday.
Aynes had just invested in machinery and inventory for its expansion into Russia when Turkey shot down a Russian warplane near the Syrian border last November, putting relatio…
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