Mayer & Cie, a 120-year-old German textile machinery manufacturer, has filed for self-administered insolvency as of September 23, 2025. The Albstadt-based company, known for its circular knitting and braiding machines, took the step after its sales dropped by nearly 50% in the past year.
The company cited multiple global challenges as the cause of its financial difficulties. These include intense price competition from Chinese manufacturers benefiting from government subsidies, a weakening global economy, and reduced demand from key markets such as Turkey, which is currently battling high inflation. Additionally, ongoing geopolitical tensions and rising material and energy costs have worsened the situation.
Mayer & Cie has chosen Germany’s self-administration insolvency procedure, allowing the existing management to remain in control during the restructuring. The process will be guided by experienced restructuring lawyer Martin Mucha, while Ilkin Bananyarli has been appointed as the provisional administrator to represent creditor interests.
The company, which employs around 280 people, confirmed that wages and salaries are secured for at least the next three months under Germany’s insolvency benefit regulations. Despite the financial crisis, Mayer & Cie aims to continue operations and focus on its core strengths during the restructuring phase.
This development highlights the mounting pressure on mid-sized, export-driven manufacturers in the textile machinery sector, particularly those exposed to intense international competition and global economic volatility. Mayer & Cie remains committed to stabilizing its operations and emerging stronger from the crisis.
