Mayer & Cie. files for insolvency under self-administration

The Local Court appointed Ilkin Bananyarli of PLUTA as insolvency monitor for the knitting machine manufacturer Mayer & Cie. from Albstadt, which has filed for debtor-in-possession proceedings. Business operations with around 280 employees will continue, wages and salaries are secured through insolvency benefits. A wide range of trade and regional media covered the announcement.