Mayer & Cie., a Ger-many-based manufacturer of circular knitting and braiding machines, has filed for insolvency under self-administration. The company, which employs about 280 people, cited a significant decline in global demand. Wage and salary payments are secured for three months through insolvency benefits.
Mayer & Cie. reported that geopolitical tensions, including the U.S.-China trade conflict and the war in Ukraine, have discouraged investment, while high inflation in Turkey and price pressure from subsidized Chinese competitors contributed to a nearly 50-percent drop in sales last year.
In the self-administration process, management will oversee restructuring with support from specialist Attorney Martin Mucha of Grub Brugger, who joins as general representative.
“On Thursday, together with the management, I informed the workforce about the insolvency application,”Mucha said. “At the same time, the necessary steps were taken to maintain business operations. We intend to continue business operations as usual and will concentrate with all our commitment on maintaining the company’s core competencies.”
2025 Quarterly Issue IV
