Huixing to take over key Mayer & Cie. operations after insolvency
After months of uncertainty, Mayer & Cie. has secured a buyer for key parts of its business. The agreement offers a path forward for the long-established circular knitting machine manufacturer, which has been undergoing insolvency proceedings since late 2025.
Insolvency and shutdown process
Formal insolvency proceedings were opened on December 1, 2025, following a sharp decline in revenues amid a difficult market for textile machinery. Operations were gradually wound down, and most employees received notice effective the end of February 2026.
Production of the remaining circular knitting orders is scheduled to finish by the end of this month, marking the planned halt of manufacturing activities.
The company had already taken steps to divest parts of the business. Its braiding machine division was sold to an Italian investor in December 2025.
A late-stage investor emerges
Just as the circular knitting segment appeared headed for closure, China-based Huixing Machine Co., Ltd. agreed to acquire selected assets. These include the Albstadt property and shareholdings in Mayer & Cie.’s subsidiaries in China and the Czech Republic. Purchase agreements were signed earlier this week.
Huixing, headquartered in Shishi City, Quanzhou, operates six production sites and employs around 1,000 people across research, manufacturing, sales, and service. The company produces knitting machinery and develops related digital control and software systems.
Plans to restart production in Albstadt
The investor intends to resume circular knitting machine production at the Albstadt location once the transaction is completed. The deal still requires regulatory approvals, including clearances from Chinese authorities for outbound investment and a non-objection certificate from the German Federal Ministry for Economic Affairs and Energy.
Completion is expected within six to eight weeks. During this interim period, Huixing plans to finalize the structure and operational concept of the new company.
Preserving expertise and brand value
For stakeholders involved in the restructuring, the agreement represents a significant shift after an extended international search for investors initially produced no result.
Restructuring specialist Martin Mucha, who supported the company during self-administration, said the sale creates a realistic chance to restart operations while leveraging Huixing’s international market access, particularly in Asia.
The court-appointed custodian, attorney Ilkin Bananyarli, also described the outcome as positive for both creditors and the company’s legacy, noting the persistence of all parties despite earlier setbacks.
Advisor Volker Wintergerst, who coordinated the investor process, emphasized that the goal throughout was to retain Mayer & Cie.’s assets, expertise, and brand rather than allow them to disappear from the market.
A traditional manufacturer in a turbulent market
Mayer & Cie., a fourth-generation family-owned company, has long focused on circular knitting and braiding machines, most of which are exported to textile producers worldwide. Like many machinery suppliers, it has faced reduced investment cycles, shifting demand, and broader volatility across the textile sector.
The insolvency proceedings were conducted under self-administration, allowing management to remain in control while restructuring efforts were supervised by a court-appointed custodian.
If regulatory approvals proceed as expected, the transaction could mark a restart for the Albstadt site under new ownership rather than a permanent closure. The coming months will determine how production is re-established and how the German engineering base is integrated into Huixing’s global manufacturing network.
For the industry, the development underscores both the pressure facing machinery suppliers and the continued value of established technologies, technical know-how, and international partnerships.
