Mayer & Cie. files for insolvency under self-administration

On 23 September 2025, Mayer & Cie., a manufacturer of circular knitting and braiding machines in Albstadt, filed an application for the opening of insolvency proceedings in self-administration at the Hechingen District Court.

Mayer & Cie. specialises in the manufacture and sale of circular knitting and braiding machines, almost all of which are exported and are valued by textile manufacturers worldwide. The company is owner-managed in the fourth generation and recently celebrated its 120th anniversary. Mayer & Cie. employs around 280 people at its headquarters in Albstadt. Their wages and salaries are secured for three months via the insolvency benefit.

Mayer & Cie. operates in a market that is currently in turmoil due to global events. For example, the trade conflict between the USA and China and the war in Ukraine led to reluctance to invest worldwide. Turkey, an important export market, is struggling with high inflation, which means that textile manufacturers there are no longer competitive. At the same time, state-subsidized manufacturers from China offer their textile machines at low prices on the world market. This led to a slump in sales of almost 50 percent last year – with increased costs at the same time.

Self-administration offers companies a legal framework to reposition themselves while business operations are ongoing. In contrast to regular insolvency proceedings, corporate responsibility remains in the hands of the management, which controls the restructuring itself. She is supported by the experienced restructuring expert Martin Mucha from the law firm Grub Brugger, who joins the company as a general representative. In self-administration, the competent local court does not appoint an insolvency administrator, but a (provisional) administrator. The latter monitors the proceedings in the interest of the creditors. Attorney Ilkin Bananyarli from PLUTA Rechtsanwalts GmbH has been appointed as the provisional administrator of Mayer & Cie.

“On Thursday, together with the management, I informed the workforce about the insolvency application. 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,” explains attorney Martin Mucha. 

About GRUB BRUGGER:

GRUB BRUGGER has been active nationally and internationally for almost six decades, currently with locations in Stuttgart, Frankfurt am Main, Munich and Freiburg. Since its foundation in 1965, the law firm has consistently focused on insolvency, restructuring and commercial law. Advising companies in crisis and their creditors, insolvency administration and cooperation with financial investors and credit institutions have significantly shaped the profile of GRUB BRUGGER. GRUB BRUGGER is a law firm that has received many awards in the trade and business press for many years and is one of the leading addresses in Germany in insolvency and restructuring advice as well as in insolvency and self-administration. More at www.grub-brugger.de.

 Martin Mucha is a specialist lawyer for insolvency and restructuring law, a partner at the law firm GRUB BRUGGER and, according to the JUVE Handbook of Commercial Law Firms 2024/2025, once again one of the leading names in insolvency administration in Germany. Martin Mucha was also recently listed in the WirtschaftsWoche ranking among the most renowned lawyers for restructuring. The Working Group on Insolvency Law and Restructuring has presented Martin Mucha with the “Self-Administrator of the Year” award in 2023. In the same year, Handelsblatt named Martin Mucha Lawyer of the Year in the field of restructuring and insolvency law. Martin Mucha is a member of the Gravenbrucher Kreis and the expert committee for insolvency law of the German Federal Bar Association (BRAK).