Traditional Company Closes, All Employees Laid Off
Stoll, German Knitting Machine Maker, to Close After 150 Years
Table of Contents
- Stoll, German Knitting Machine Maker, to Close After 150 Years
- Stoll, German Knitting Machine Maker: Frequently Asked Questions
- What happened to Stoll, the German knitting machine maker?
- When did Stoll announce its closure?
- Why is Stoll closing down?
- Where was Stoll located?
- Who acquired Stoll, and when?
- How many employees are affected by the closure?
- What support is being offered to the employees?
- What is IG Metall’s reaction to the closure?
- What is the Karl Mayer Group’s response to the criticism?
- What is the significance of Stoll’s closure in the context of german manufacturing?
- Is this part of a larger trend?
- What are the key dates to remember?
Reutlingen, Germany – A storied chapter in German manufacturing is drawing to a close as Stoll, a knitting machine manufacturer wiht a history spanning over 150 years, prepares to shut its doors. The company, based in reutlingen, will cease operations at the end of October, resulting in the termination of all 270 employees.
End of an Era for Conventional Company
The declaration follows a similar recent closure of Kübler, a traditional butcher in Waiblingen, adding to concerns about the economic climate in southwestern Germany. Stoll, founded in 1873 in Riedlingen, Baden-Württemberg, has been a significant player in the mechanical engineering sector, amassing numerous patents throughout its history.
The Karl Mayer Group, a Hessian company that acquired Stoll in 2020, cited declining sales and overall losses as the primary reasons for the closure. According to the company, Stoll’s financial performance contributed considerably to this imbalance, leading to the decision in February to divest from the flat knitting machine division.
workers at Stoll were informed of the impending closure during a meeting Thursday, May 8th. Despite employee demonstrations advocating for the company’s preservation, the decision remained unchanged. A social plan has been established to support the affected employees, all of whom will receive termination notices.
IG Metall Reutlingen-Tübingen, a German trade union, stated that severance payments will be determined based on age and length of service, ranging from 0.25 to 0.45 gross monthly salaries per year of employment. Additionally, a transfer company will be established to assist employees in finding new employment opportunities. this news follows recent job reduction announcements at steel company Voestalpine’s Dettingen (Erms) location near Reutlingen.
Union Criticizes Parent Company’s Lack of Effort
IG Metall has criticized the Karl Mayer Group, alleging that the company focused solely on the closure of Stoll without exploring potential investors or alternative solutions. The union has pledged to continue monitoring the situation until the official closure date in October. The Karl Mayer Group maintains that it has been in contact with potential parties interested in taking over the reutlingen location, though critics argue these efforts came too late to save the workforce.
Another Traditional Company Closes its Doors
The closure of Stoll mirrors a similar situation in Rhineland-Palatinate, where Nolte Möbel, a furniture manufacturer with a long history, is slated to close in July 2025, further highlighting the challenges faced by traditional industries in Germany.
Stoll, German Knitting Machine Maker: Frequently Asked Questions
Here’s a Q&A-style blog post addressing the closure of Stoll, the German knitting machine manufacturer.
What happened to Stoll, the German knitting machine maker?
Stoll, a knitting machine manufacturer with a history spanning over 150 years, is closing its doors. The company, based in Reutlingen, Germany, is ceasing operations at the end of October.This will result in the termination of all 270 employees.
When did Stoll announce its closure?
The provided text doesn’t specify the exact date of the closure declaration, but it mentions that workers were informed of the impending closure during a meeting on Thursday, May 8th. the decision to divest from the flat knitting machine division was made in February.
Why is Stoll closing down?
The Karl Mayer Group, which acquired Stoll in 2020, cited declining sales and overall losses as the primary reasons for the closure.Stoll’s financial performance significantly contributed to these losses.
Where was Stoll located?
Stoll was located in Reutlingen, Germany.
Who acquired Stoll, and when?
The Karl Mayer Group, a Hessian company, acquired Stoll in 2020.
How many employees are affected by the closure?
All 270 employees of Stoll will lose their jobs as a result of the closure.
What support is being offered to the employees?
A social plan has been established to support the affected employees. Severance payments will be determined based on age and length of service, ranging from 0.25 to 0.45 gross monthly salaries per year of employment. Additionally, a transfer company will be established to assist employees in finding new employment opportunities.
What is IG Metall’s reaction to the closure?
IG Metall Reutlingen-Tübingen, a German trade union, stated that severance payments will be determined based on age and length of service. They have criticized the Karl Mayer Group, alleging that the company focused solely on the closure without exploring potential investors or choice solutions. IG Metall has pledged to continue monitoring the situation until the official closure date in October.
What is the Karl Mayer Group’s response to the criticism?
The Karl Mayer Group maintains that it has been in contact with potential parties interested in taking over the Reutlingen location, although critics argue these efforts came too late to save the workforce.
What is the significance of Stoll’s closure in the context of german manufacturing?
The closure of Stoll,a company with a long history in mechanical engineering,reflects the challenges faced by traditional industries in Germany. It occurs alongside similar closures, like that of the butcher Kübler, and mirrors the situation of other companies like Nolte Möbel.
Is this part of a larger trend?
yes, the closure of Stoll aligns with a trend of traditional industries facing challenges in Germany. The article references the closure of Kübler and the upcoming closure of Nolte Möbel as examples.
What are the key dates to remember?
February: Decision to divest from the flat knitting machine division.
May 8th: Workers informed of the impending closure.
October: Stoll ceases operations.
July 2025: Nolte Möbel is slated to close.
Here’s a summary in table format:
| Company | Industry | Location | Reason for Closure (as cited) | Employees Affected (Stoll) | Closure Date (Stoll) |
|---|---|---|---|---|---|
| Stoll | Knitting Machine Manufacturing | Reutlingen, Germany | Declining Sales & Overall Losses | 270 | End of October |
| Kübler | Butcher | Waiblingen, Germany | Not Specified (Implied: economic climate) | N/A | recently Closed |
| Nolte Möbel | Furniture Manufacturing | Rhineland-Palatinate, Germany | Not Specified (Implied: challenges in traditional industries) | N/A | July 2025 |