Vestel Seeks Debt Restructuring Amid Ongoing Losses

Vestel, a prominent Turkish home-appliance and electronics manufacturer, is currently engaged in discussions with banks to restructure over $500 million in debt. Bloomberg posted on X that the company has been reporting losses every quarter for the past two years. The move to renegotiate its financial obligations comes as Vestel seeks to stabilize its financial position and address ongoing challenges in the market. The company has not yet disclosed specific details about the restructuring plan or the potential impact on its operations. Vestel's efforts to manage its debt highlight the broader economic pressures faced by businesses in the region.