Mayer & Cie celebrated in July. 120 years of existence. Now the traditional company, based in Tailfingen, registered bankruptcy two days ago. This is confirmed by press spokeswoman Claudia Bitzer at the request of the Zollern-Alb courier. The “Wirtschaftswoche” had first reported.
300 employees in Albstadt, 40 in the Czech Republic and 25 in China
Table of Contents
Around 300 people are employed at the headquarters in Albstadt. There are 40 employees in the Czech Republic and 25 in China.
++ What happens to the employees concerned, the company has now announced: Read here now! +++
Recommended articles
Already in February of this year, the management had announced that they could not pay employees to the employees. All bonus payments are dispensed with. The order intake for round knitting machines has been declining sharply since mid -2022. Mayer & Cie. According to its own information, the world market leader in the area of knitting machines.
Geopolitical tensions between the West and China and the reverberating high inflation that has driven up living costs are reasons for the decline in order.
Benjamin Mayer, Managing Director Mayer & Cie.
The reasons for the decline in order called managing director Benjamin Mayer in a press release in 2024: “This includes geopolitical tensions between the West and China, the high inflation, which has raised the living costs and thus caused uncertainty of consumers, and derived from this. Temu are offered. “
In 2024, the machine manufacturer according to his own information made total sales of 80 million euros and thus 20 million euros less than in the previous year. In 2022 it was 110 million euros.
Insolvency in personal responsibility
The bankruptcy is to be handled on your own responsibility. This means that the management usually remains in office. However, the management gets an assistant employee appointed by the court who is supposed to maintain the interests of the creditors.
Management can make decisions
The bankruptcy of personal responsibility primarily serves companies that are in the crisis but still see another chance of saving the company. So Mayer & Cie. able to continue to make decisions during the bankruptcy proceedings and to keep control of resources and business.
Martin Mucha from the Grub Brugger law firm was reportedly appointed for the renovation of the company. The Stuttgart District Court has employed the lawyer Ilkin Bananyarli from the Pluta law firm.
Founded in 1905
The traditional Swabian company was founded in 1905 as “United Mechanical Workshops Mayer & Cie. Tailfingen” by Johannes Mayer and five other owners from various mechanic companies. In 1935 the first own round knitting machine was delivered. The series production started in 1939.
Today the round knitting and braiding machines are sold internationally. In addition to the subsidiaries, more than 50 sales and service representatives worldwide belong to the network, the company indicates in its portfolio.
