On September 23, 2025, prominent Albstadt-based manufacturer of circular knitting and braiding machines, Mayer & Cie, filed a petition with the Hechingen District Court to open insolvency proceedings under self-administration.
A fourth-generation, owner-managed company, Mayer & Cie employs approximately 280 people at its headquarters. The company’s specialized circular knitting and braiding machines are highly valued by textile manufacturers globally, with nearly all production being exported. The employees' salaries and wages are secured for three months through insolvency benefits.
Mayer & Cie is operating in a tumultuous global market, facing a severe combination of decreased demand and rising costs.
The trade dispute between the US and China, coupled with the war in Ukraine, has triggered a worldwide reluctance to invest in new machinery.
A crucial export market for the company, Turkey is grappling with extremely high inflation, severely undermining the competitiveness of local textile manufacturers.
Simultaneously, state-subsidized manufacturers from China are able to offer their textile machinery at significantly lower prices on the global market.
These factors resulted in a devastating sales slump of nearly 50 per cent over the last year, even as the company's operating costs increased.
The decision to file for self-administration provides the company with a legal mechanism to reposition and restructure while maintaining normal business operations. This framework differs significantly from standard insolvency proceedings, as corporate responsibility remains with the current management team, who directly oversee the restructuring process.
To support this critical phase, the management is being advised by an experienced restructuring expert, Martin Mucha of the law firm Grub Brugger, who has joined the company as the General Representative. In a self-administration filing, the competent local court appoints a provisional administrator to monitor the proceedings in the interest of the creditors. Attorney Ilkin Bananyarli from Pluta Rechtsanwalts GmbH has been appointed to this role for Mayer & Cie.
