Many long-standing retail chains are highly indebted, often from leveraged buyouts led by private equity firms, while investors reconsider further lending.
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Payment behaviour of many Turkish businesses has deteriorated since 2015, and key sectors continue to face problems in 2017 due to increased uncertainty.
Competition is high in all segments and price pressure offsets sales volume growth, meaning that the already low profit margins will remain under pressure.
Given the positive economic outlook for 2017 with household consumption forecast to increase above 3% , robust consumer durables sales growth is expected.