ALBSTADT, Germany — On September 23, 2025, Mayer & Cie., a well-known manufacturer of circular knitting and braiding machines based in Albstadt, submitted a petition to initiate insolvency proceedings under self-administration at the Hechingen District Court.
Specializing in the design and production of circular knitting and braiding machinery, Mayer & Cie. exports nearly all of its products and is renowned among textile manufacturers globally. Owned and operated by the same family for four generations, the company recently marked its 120th anniversary. With around 280 employees at its Albstadt headquarters, the payroll for these staff members is protected for three months through insolvency benefits.
Mayer & Cie. finds itself in a turbulent market environment influenced by various global developments. For instance, the trade tensions between the United States and China, alongside the ongoing war in Ukraine, have resulted in a global hesitance to invest. Additionally, Turkey—one of the company’s crucial export markets—faces severe inflation, making its textile manufacturers less competitive. Concurrently, state-subsidized manufacturers in China are flooding the global market with their machines at significantly reduced prices. As a consequence, Mayer & Cie. experienced nearly a 50% decline in sales over the past year, compounded by rising operational costs.
In seeking self-administration, Mayer & Cie. aims to find a legal pathway for restructuring while continuing operations. Unlike traditional insolvency proceedings, this approach allows management to retain control over the restructuring process. The company will be supported by Martin Mucha, a seasoned restructuring specialist from the law firm Grub Brugger, who will serve as a general representative. Instead of appointing a typical insolvency administrator, the local court designates a provisional administrator to oversee the proceedings on behalf of the creditors. Ilkin Bananyarli, an attorney from PLUTA Rechtsanwalts GmbH, has been assigned as the provisional administrator for Mayer & Cie.
“On Thursday, I, along with management, informed the employees about the insolvency application. Concurrently, we implemented the necessary measures to ensure business continuity. We aim to maintain normal operations and will focus our efforts on preserving the company’s core competencies,” stated Martin Mucha.
