The 120 -year -old company Mayer & Cie. In Albstadt (Zollernalbkreis) goes into bankruptcy. The manufacturer of round knit and braiding machines applied for an application to open insolvency proceedings in self-administration on September 23 at the Hechingen district court. Mayer & Cie employs at the headquarters in Albstadt. Around 280 employees. Her wages and salaries are secured for three months about the bankruptcy money.
Mayer & Cie. cites the trade conflict between the USA and China and the war in Ukraine as reasons for the step. The important export market of Türkiye fights with high inflation, which means that the textile manufacturers there are no longer competitive, the statement said. At the same time, state -subsidized manufacturers from China offer their textile machines at affordable prices on the world market. “This led to a drop in sales of almost 50 percent last year – at the same time increased costs.”
Since the company has registered bankruptcy in -house, the entrepreneurial responsibility remains in the hands of the management, which controls the renovation itself.