Fashion
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.
On September 23, 2025, Mayer & Cie, a 120-year-old Albstadt-based maker of circular knitting and braiding machines, has filed for self-administered insolvency.
Hit by global crises, cheap Chinese competition, and a 50 per cent sales slump, the 280-employee firm seeks restructuring while continuing operations.
Lawyer Martin Mucha supports management; Ilkin Bananyarli is provisional administrator.
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.
Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.
Fibre2Fashion News Desk (HU)
Current account excluding gold and energy indicated net deficit of $3.9 billion, while goods saw a deficit of $9.5 billion.
Turkiye recorded a current account deficit (CAD) of $9.6 billion in March, the country’s central bank said.
Treasury and Finance Minister Mehmet Simsek said the CAD is expected to widen this year, due to high energy and non-energy commodity prices.
Simsek said the deterioration is likely to remain temporary and manageable, thanks to stronger macroeconomic fundamentals and policy gains.
According to annualised data, current account deficit recorded as $39.7 billion (2.6 per cent of gross domestic product) in March, while the goods deficit recorded as $77.8 billion.
Simsek said the deterioration is likely to remain temporary and manageable thanks to stronger macroeconomic fundamentals and policy gains, domestic media outlets reported.
Turkiye is heavily reliant on imported energy, whose prices spiralled due to the Middle East conflict.
Simsek said elevated global commodity prices would put pressure on the external balance, but emphasised that the government’s economic programme had improved resilience against such shocks.
He said foreign direct investment (FDI) inflows totalled $1 billion in March, bringing annualised foreign direct investment to $12.6 billion.
The new investment incentive package under discussion in parliament now is expected to strengthen the country’s financing structure and support long-term capital inflows, he added.
Fibre2Fashion News Desk (DS)
During the first quarter of ****, the UK’s imports of textile fabrics eased down *.** to £*,*** million (~$*,*** million), against £*,*** million in January-March **** but slightly higher from £*,*** million in the fourth quarter of ****. Its imports of fibre were noted at £** million (~$***.** million) steady as £** million in Q*, **** but slightly lower than £** million in Q*, ****.
During the third month of this year, the country’s clothing imports declined *.** per cent to £*.*** billion (~$*.*** billion), compared with £*.*** billion in March ****. But the inbound shipment was slightly higher month on month compared with £*.*** billion in February ****.
Higher rents, utility bills and fuel prices are eating away at already thin profit margins, it found.
High inflation is cutting deep into Bangladesh consumer spending, with weak demand turning one of the biggest concerns for businesses, DCCI said.
Higher rents, utility bills and fuel prices are eating away at already thin profit margins.
DCCI’s economic position index revealed that consumers have sharply reduced spending as the cost of living continues to rise.
SMEs are feeling the pressure the most.
The chamber’s economic position index (EPI) revealed that consumers have sharply reduced spending as the cost of living continues to rise, putting pressure on retailers, transport operators and other service providers.
Small and medium enterprises (SMEs) are feeling the pressure the most as they struggle to manage higher operating costs without losing customers.
Businesses also cited difficulties in obtaining bank loans, while delays in licensing and other regulatory procedures are adding to costs.
The DCCI report identified a shortage of skilled workers, particularly in technical and customer service roles, as another challenge for the sector.
The country’s inflation rose to 9.04 per cent in April from 8.71 per cent in March, according to official statistics.
Fibre2Fashion News Desk (DS)
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