ALBSTADT, Germany — February 10, 2026 — Insolvency proceedings against Mayer & Cie., a German manufacturer of circular knitting and braiding machines, were initiated on 1 December 2025. Immediately after the insolvency proceedings were opened, the entire business was shut down. Most employees were then given notice of termination at the end of February 2026. The plan is to complete the production of the remaining orders in the circular knitting by the end of the month.
In December 2025, Mayer & Cie.’s braiding machine division was sold to an Italian investor. Now, with Huixing Machine Co., Ltd. Shishi, a buyer has been found for the circular knitting machine business at the last minute. The Chinese machine manufacturer will take over selected assets, including the property in Albstadt and shareholdings, including the two subsidiaries of Mayer & Cie. in China and the Czech Republic. The purchase agreements were signed on Monday.
Huixing Machine Co., Ltd. Shishi is based in Shishi City in Quanzhou, a center of the Chinese textile and engineering industry. Huixing manufactures and sells high-quality knitting machines and develops the associated intelligent software. The company employs around 1,000 people in research and development, manufacturing, sales and customer service at six production sites. Huixing is one of China’s leading companies in the textile and engineering industry.
According to its own statements, the buyer intends to resume production of circular knitting machines at the Albstadt site once the purchase agreement has been completed. The completion of the purchase agreement is still largely dependent on granting the necessary official approvals, including the approval from the relevant Chinese authorities for foreign investments and a clearance certificate from the German Federal Ministry for Economic Affairs and Energy. As things stand at present, the purchase agreements are expected to be completed within approximately six to eight weeks. In the period between signing and closing, the buyer also intends to finalize the concept for the new company.
Mayer & Cie. specializes in the manufacture and sale of circular knitting and braiding machines, which are almost entirely exported and are valued by textile manufacturers worldwide. The company is owner- managed in its fourth generation and operates in a market that is currently characterized by considerable turbulence. Mayer & Cie.’s turnover slumped dramatically, leading to financial difficulties, with the result that the company was forced to file for insolvency under its own administration in September 2025; proceedings were opened on 1 December 2025. As no investor for the circular knitting machine division could be found after an intensive international search, business operations are planned to be shut down after a short period of organized production wind-down until the end of the month.
Experienced restructuring lawyer Martin Mucha from the law firm Grub Brugger has joined the company as general representative and, together with his team, is supporting the management in the self-administration proceedings. He comments: “With the sale of the assets of Mayer & Cie.’s circular knitting division to Huixing, we have found a prospect for the planned resumption of business. It is good news for the location that operations are to be ramped up again in the future. The investor not only brings financial resources to the table, but also excellent business relationships, particularly in Asia, but also worldwide, from which Mayer & Cie. can benefit. I am delighted that, after intensive efforts in the final stages, we were able to achieve this result.”
Ilkin Bananyarli, a lawyer at PLUTA Rechtsanwalts GmbH, was appointed as trustee for Mayer & Cie. He says: “All parties involved showed tireless commitment, but the M&A process did not initially lead to an investor solution. This makes this last-minute turn of events all the more gratifying. This is a very welcome outcome for this long-established company and its creditors.”
“We had been searching intensively for an investor for Mayer & Cie. for many months, which initially seemed unsuccessful. Despite the announced closure, we continued our search and our efforts to realize the assets at full speed. The assets, know-how and brand should not be lost. The fact that we were able to interest Huixing in Mayer & Cie. and ultimately convince them is a great success for all of us,” explains Volker Wintergerst of Wintergerst Societät für Unternehmer-Beratung, who accompanied the investor process together with his colleagues Christian Scharfenberger and Simon Ulmer.
The Hechingen Local Court opened insolvency proceedings under self-administration on 1 December 2025. In contrast to regular insolvency proceedings, this means that entrepreneurial responsibility remains in the hands of the management. At Mayer & Cie., this support is provided by restructuring expert Martin Mucha. In self-administration, the competent local court does not appoint an insolvency administrator, but rather a trustee who supervises the proceedings in the interests of the creditors. Lawyer Ilkin Bananyarli from PLUTA Rechtsanwalts GmbH was appointed as trustee for Mayer & Cie.
Posted: February 16, 2026
Source: Mayer & Cie. / Sympra GmbH (GPRA)
