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Legal Updates

01.03.2024 Update

Dear Public

As it is well known, the capital of SKF Gıda Sanayi ve Anonim Şirketi (the “Company”) was first increased to TRY 2,000,000.00 (two million Turkish Liras) with the capital increase dated 09.06.2021. Subsequently, the capital of the Company has further increased to TRY 20,000,000.00 (twenty million Turkish Liras) as published at Turkish Trade Registry Gazetta dated 01.07.2021. Such amount remains unchanged as of the current date.

The aforementioned decisions to increase capital were made unanimously by all shareholders. In this regard, Kadir Demir, a shareholder of the Company, subscribed to 2% (two percent) of the Company’s capital, equivalent to TRY 400,000.00 (four hundred thousand Turkish Lira), while Fatih Mehmet Tayfur, another shareholder, subscribed to the remaining 2% (two percent) of the capital, also amounting to TRY 400,000.00 (four hundred thousand Turkish Lira). However, as of the current date, the capital debts owed by these shareholders to the Company have yet to be fully settled.

In this respect, pursuant to the Articles of Association of the Company and the applicable legislation, in particular Articles 481, 482 and 483 of the Turkish Commercial Code numbered 6102, we hereby declare to the public and also notify and request from Kadir Demir and Fatih Mehmet Tayfur each to pay all or the balance of the outstanding share amounts amounting to TRY 400,000.00 (four hundred thousand Turkish Liras), which in total corresponds to 4% (four percent) of the Company’s capital to the Company’s any bank account within 1 (one) month as of the date of this letter. Failing this, Company will take action to deprive rights of Kadir Demir and Fatih Mehmet Tayfur regarding their relevant shares in the Company and force to apply contractual penalty, if any.


12.01.2024 Update

Dear Public,

Our company SKF Gıda Sanayi ve Ticaret Anonim Şirketi (the “Company”) has faced and continue to face a series of unprecedented and serious challenges, ranging from dreadful abuses to malicious external interventions. These events not only affect the fabric of our organization but also pose a threat to the livelihoods of our dedicated staff, the trust of our customers, and the interests of our third-party suppliers and business partners.

Navigating through this challenging period with minimal damage and safeguarding the interests of our stakeholders are among the top priorities of our Company. In this context, it has been decided to share this statement with the public to inform all the players and transparently progress through the process.


Promissory Note

Desen Çikolata Gıda İnşaat Taahhüt Turizm Makine Sanayi İç ve Dış Ticaret Limited Şirketi (“Desen”) has enforceda promissory note dated 20.12.2021 and with a value of 3,000,000.00 Turkish Liras (three million Turkish Liras) against our Company. Additionally, the movable and immovable assets of the Company have been subject to a provisional attachment based on the aforementioned promissory note.

As a result of the examination, we found out that the Company did not have such a debt to Desenat the time the promissory note was issued, and the related promissory note is not even recorded in the Company’s current account records.

Regrettably, the relevant promissory note that unexpectedly enforced led to the imposition of a seizure on the Company’s factory, bank accounts, and essential equipment. Although our legal struggle regarding this situation continues, these actions have significantly and adversely impacted our operations.

The Legacy of Mismanagement from the Former Board of Directors

On April 14, 2023, legal proceedings were initiated by our Company to seek compensation for damages caused by the former members of our Board of Directors, Kadir Demir and Fatih Mehmet Tayfur. During their tenure on the board, they violated their fiduciary duty, and our company has incurred substantial damages arising out of abuse of the powers granted to them by our Company.

The Company filed civil lawsuit to recover the damages inflicted by these individuals. Furthermore, a criminal complaint was lodged with the Izmir Public Prosecutor’s Office regarding the corruption of these individuals and the prosecution of the crimes they committed against our company. It was publicly disclosed that they were removed from our Company’s management as of February 1, 2022.

It is worth noting that the effects of the mismanagement during the tenure of Kadir Demir and Fatih Mehmet Tayfur as former members of the board of directors continue to impact our Company. The circumstances in which the company was administered in a manner significantly divergent from a corporate identity throughout their tenure on the board have had detrimental repercussions on both our ongoing operations and the future efficacy of the organization.

Actions of Company Shareholders Kadir Demir and Fatih Mehmet Tayfur

Ongoing disputes between company shareholders Kadir Demir and Fatih Mehmet Tayfur, and Salim Satır, the authorized representative and sole shareholder of SST Teknoloji Anonim Şirketi, the majority shareholder of the Company, pose a threat to the company’s future. Additionally, as evident from the Company’s accounting records, Kadir Demir and Fatih Mehmet Tayfur have yet to fulfill their obligation to inject capital into the Company. These issues persistently strain relationships among the mentioned individuals, consequently intensifying pressure on the Company’s operations.

Corporate Issues

In addition to the aforementioned problems, our company is grappling with the clandestine acquisition of our formulas, undermining our research and development efforts, and the consequent waste of investments made in this regard. These challenges have led to a tarnished reputation and, worst of all, the loss of valuable customers.


The Company, renowned for its high-quality products both domestically and internationally, is seriously at risk of fully executing its core activities. Our business volume, which had previously shown continuous growth, is now facing a significant contraction due to the reasons mentioned above. In this context, our Company is grappling with challenges that surpass its existing capabilities in the current competitive environment.


In light of the situations outlined, the necessity of implementing the following measures has arisen:

• Thoroughly reviewing the Company’s organizational structure.
• To prevent any detriment to our personnel during this process, terminating the employment relationships between them and our Company in a way that ensures no harm to the individuals involved, providing them with all necessary financial and moral support, and closing the relevant departments and workplace.
• Halting new personnel recruitment and withdrawing job offers extended to prospective employees.
• Temporarily suspending non-critical operations to create space for a comprehensive reassessment and strategic restructuring.
• Prioritizing the minimization of costs and focusing on essential expenditures.

In light of these considerations, we are compelled to promptly make challenging yet necessary strategic decisions to safeguard the interests of our employees, customers, and third-party suppliers and business partners. While doing so, the Company’s financial situation and financial projections, efficiency, and the industry conditions in which it operates have been taken into account. These imperative decisions, born out of necessity, will play a pivotal role in successfully overcoming these challenges before the Company’s liquidation.

Best regards,

Board of Directors of SKF Gıda Sanayi ve Ticaret Anonim Şirketi

05.24.2023 Update

It was previously shared with the public that our Company’s former officials, Mehmet Fatih Tayfur and Kadir Demir, are not able to represent our company’s brand Musclecheff in any matter, that criminal complaints and compensation cases were filed against them due to the damages they caused to our Company.

We felt the need to share some new facts about the current situation with the public:

We found out with an e-mail addressed to Kadir Demir by a distributor, while cc’ing our Company’s e-mail address, that Kadir Demir placed an order to a distributor and also collected an advance payment from them and that the distributor requested a refund as it was not sent the order. Thus, we would like to re-announce to the public that neither Kadir Demir nor Mehmet Fatih Tayfur have any authority in our Company or for products produced under the Musclecheff brand. If these people contact you under the Musclecheff brand, please do not disesteem them as our Company will not be responsible for any damages occurring from them.

During the period when Kadir Demir and Mehmet Fatih Tayfur were the managers in our Company, our Company bought a cream production and pancake production line from BAF KONSEPT MÜHENDİSLİK HİZMETLERİ SANAYİ VE TİCARET LİMİTED ŞİRKETİ. The cream production line was delivered to our Company when Kadir Demir and Fatih Mehmet Tayfur were managers in our Company, and the pancake machine was delivered to our Company after the aforementioned persons were dismissed from our Company. It was revealed in our investigation that the cream production line was not produced correctly. It was determined by the court that the pancake machine had already been used. This situation may seem like a commercial dispute, as we later found out, the former executives of our Company, Kadir Demir and Mehmet Fatih Tayfur, as well as BAF KONSEPT MÜHENDİSLİK HİZMETLERİ SANAYİ VE TİCARET LİMİTED ŞİRKETİ’s shareholders Cemal Özer and Anıl Arda Baydar, are selling pancakes by establishing a company named PANITO GIDA DIŞ TİCARET SANAYİ LİMİTED ŞİRKETİ each having 25% of the shares. This Pancake project was developed while Kadir Demir and Mehmet Fatih Tayfur were officials of our Company, and a pancake production line was ordered from the aforementioned company. However, after Mehmet Fatih Tayfur and Kadir Demir left our company, a used pancake production line was delivered to our Company, and they started to sell pancakes under the name Panito, whose company was established by the owners of the aforementioned manufacturer and the former officials of our Company. Considering the commercial relations of the partnerships which the aforementioned persons have due to our Company, we respectfully announce our assessment that such transactions are against commercial ethics and declare that we will initiate all necessary legal initiatives.

04.14.2023 Update

Our Company’s former board members, Kadir Demir and Fatih Mehmet Tayfur, have been removed from the management of our Company SKF Gıda Sanayi ve Ticaret A.Ş. as of 01.02.2022, and as of this date, they do not represent our Company or the Company’s brand Musclecheff in any way. These individuals also do not carry out any activities under the brand name Musclecheff, which is the brand of our Company.

Our Company has initiated legal proceedings for the compensation of the damages inflicted on our Company by these individuals during their membership in the board of directors of our Company. These persons caused damage to our Company by violating their obligations of care and loyalty arising from the law and by abusing the authorities granted to them by our Company’s shareholders.   

In addition, a criminal complaint has been filed against these individuals with the İzmir Chief Public Prosecutor’s Office in order to determine the irregularities and crimes that they have committed against our Company and to punish them for these reasons. The legal process between our Company and the aforementioned persons is still ongoing and we are respectfully announcing these events for public knowledge. 



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