Now, at the last moment, a buyer has been found for the circular knitting machine business in the form of Huixing Machine Co., Ltd., Shishi. The Chinese machinery manufacturer will acquire selected assets, including the property in Albstadt, as well as shareholdings, among them Mayer & Cie.’s two subsidiaries in China and the Czech Republic. The purchase agreements were signed on Monday.

Huixing Machine Co., Ltd., Shishi is headquartered in Shishi City in Quanzhou, a center of China’s textile and machinery industry. Huixing manufactures and distributes high-quality knitting machines and develops the associated intelligent software. The company employs around 1,000 people across six production sites in research and development, manufacturing, sales, and customer service. Huixing is one of the leading Chinese companies in the textile and machinery industry.

According to its own statements, following completion of the purchase agreement, the buyer intends to resume production of circular knitting machines at the Albstadt site. Completion of the transaction is still subject to the granting of the necessary regulatory approvals, including clearance by the competent Chinese authorities for outbound investments and a non-objection certificate from the German Federal Ministry for Economic Affairs and Energy. Based on the current status, completion of the transaction can be expected within approximately six to eight weeks. In the period between signing and closing, the purchaser also intends to finalize the concept for the new company.

Mayer & Cie. specializes in the manufacture and sale of circular knitting and braiding machines, which are almost entirely exported and highly valued by textile manufacturers worldwide. The company, family-owned in the fourth generation, operates in a market currently characterized by significant turbulence. Mayer & Cie.’s revenues declined dramatically, leading to financial distress, and in September 2025 the company filed for insolvency under self-administration; proceedings were opened on December 1, 2025. As no investor for the circular knitting machine division could initially be found despite an intensive international search, business operations are to be orderly discontinued at the end of the month.

Experienced restructuring expert attorney Martin Mucha of the law firm Grub Brugger joined the company as general representative and, together with his team, is supporting management in the self-administration proceedings. He commented: “With the sale of the circular knitting assets of Mayer & Cie. to Huixing, we have found a perspective for the planned resumption of business. For the site, it is good news that operations are to be restarted in the future. The investor brings not only financial resources but also excellent business relationships, particularly in Asia but also worldwide, from which Mayer & Cie. can benefit. I am pleased that after intensive efforts we were able to achieve this result at the very last moment.”

Attorney Ilkin Bananyarli of PLUTA Rechtsanwalts GmbH was appointed custodian (Sachwalter) of Mayer & Cie. He stated: “All parties involved showed tireless commitment, yet the M&A process initially did not result in an investor solution. It is all the more gratifying that this last-minute turnaround occurred during the proceedings. For the traditional company and its creditors, this is a very positive outcome.”

“We had been intensively searching for an investor for Mayer & Cie. for many months, which initially seemed unsuccessful. Despite the announced shutdown, we continued our search and realization efforts with full commitment. The assets, know-how, and the brand were not to be lost. The fact that we were able to interest Huixing in Mayer & Cie. and ultimately convince them is a great success for all of us,” explained Volker Wintergerst of Wintergerst Societät für Unternehmerberater, who accompanied the investor process together with his colleagues Christian Scharfenberger and Simon Ulmer.

On December 1, 2025, the Local Court of Hechingen opened insolvency proceedings under self-administration. In contrast to regular insolvency proceedings, entrepreneurial responsibility remains with management in self-administration. At Mayer & Cie., management is supported by restructuring expert Martin Mucha. In self-administration proceedings, the competent court does not appoint an insolvency administrator but rather a custodian who supervises the proceedings in the interest of the creditors. Attorney Ilkin Bananyarli of PLUTA Rechtsanwalts GmbH was appointed custodian of Mayer & Cie.