Traditional Company Closes; All Employees Terminated
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, to Close After 150 Years: A Q&A
- What happened to Stoll, the German knitting machine manufacturer?
- When did Stoll start its operations?
- Why is Stoll closing?
- Where was Stoll located?
- How many employees are affected by the closure?
- What is the parent company of Stoll?
- What is the role of the Karl Mayer Group in Stoll’s closure?
- What kind of social plan is in place for the affected employees?
- what does the social plan include?
- what has been the Union’s reaction to the closure?
- Did the Karl Mayer Group attempt to find a buyer for Stoll?
- What other closures have also been announced?
- What does the Stoll closure signal?
- Key Facts About Stoll, Summarized
Reutlingen, Germany – A storied chapter in german manufacturing is drawing to a close as Stoll, a knitting machine manufacturer with a history spanning over 150 years, prepares to shut its doors at the end of October.
End of an era for Reutlingen-Based Company
The closure, impacting 270 employees, marks another blow to the industrial landscape of southwestern Germany. News of Stoll’s impending shutdown follows closely on the heels of similar announcements from other regional businesses, including the Kübler butchery in Waiblingen.
Stoll, founded in 1873 in Riedlingen, Baden-Württemberg, has been a fixture in the mechanical engineering sector. The company, known for its knitting machine technology, amassed numerous patents throughout its long history. however, declining sales and financial losses have led its parent company, the Karl Mayer Group, to cease operations.
Parent Company Cites Financial strain
The Karl Mayer Group, headquartered in Obertshausen, attributed the decision to separate from Stoll to an imbalance caused by declining sales and losses within the flat knitting machine division. This decision, initially made in February, ultimately led to the closure of the Reutlingen facility.
Despite employee demonstrations advocating for the company’s preservation, the closure will proceed as planned.A social plan has been established to support the affected workers.
According to IG Metall Reutlingen-Tübingen, the social plan includes severance payments scaled according to age and tenure, 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.
Union Criticizes Lack of Rescue Efforts
IG Metall has criticized the Karl Mayer Group, alleging a lack of genuine effort to find investors or explore choice solutions to save stoll. The union asserts that the parent company focused primarily on the closure process rather than pursuing potential buyers for the business.
The Karl Mayer Group maintains that it has been in contact with potential parties interested in taking over the Reutlingen location.However, the union suggests these efforts may have come too late to prevent the closure.
Another Closure in german Manufacturing
The news of Stoll’s closure comes shortly after the declaration that Nolte Möbel, a furniture manufacturer based in Rhineland-Palatinate, will cease operations in July 2025, further highlighting challenges within the German manufacturing sector.
Stoll, German Knitting Machine Maker, to Close After 150 Years: A Q&A
What happened to Stoll, the German knitting machine manufacturer?
Stoll, a German company specializing in knitting machines, is closing its doors at the end of October. This announcement, made in Reutlingen, Germany, marks the end of a buisness that has been operating for over 150 years.
When did Stoll start its operations?
Stoll was founded in 1873 in Riedlingen, Baden-Württemberg.
Why is Stoll closing?
The parent company, the Karl Mayer Group, has decided to cease operations at Stoll due to declining sales and financial losses within the flat knitting machine division.
Where was Stoll located?
The Stoll facility was located in Reutlingen, Germany.
How many employees are affected by the closure?
The closure impacts approximately 270 employees.
What is the parent company of Stoll?
The parent company is the Karl mayer Group, headquartered in Obertshausen.
What is the role of the Karl Mayer Group in Stoll’s closure?
The Karl Mayer Group attributed the decision to separate from Stoll to declining sales and financial losses within the flat knitting machine division. Despite some reported attempts to find a buyer, the closure will proceed as planned.
A social plan has been established by IG Metall Reutlingen-Tübingen to support the displaced workers.
The social plan includes severance payments scaled according to age and tenure,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 has been the Union’s reaction to the closure?
IG Metall has criticized the Karl Mayer Group, alleging a lack of genuine effort to find investors or explore option solutions to save Stoll. The union believes that the parent company focused primarily on the closure process,rather than pursuing potential buyers.
Did the Karl Mayer Group attempt to find a buyer for Stoll?
The Karl Mayer Group maintains that they have been in contact with potential parties interested in taking over the Reutlingen location, but the union suggests these efforts may have come too late to prevent the closure.
What other closures have also been announced?
The news of Stoll’s closure comes shortly after the declaration that Nolte Möbel,a furniture manufacturer based in Rhineland-Palatinate,will cease operations in July 2025.
What does the Stoll closure signal?
The closure of Stoll, alongside other manufacturing closures, highlights the challenges facing the German manufacturing sector.
Key Facts About Stoll, Summarized
| Aspect | Details |
|---|---|
| Company name | stoll |
| Industry | Knitting Machine Manufacturing |
| Location | Reutlingen, Germany |
| Closure Date | End of October (as per source material) |
| Reason for Closure | Declining sales and financial losses |
| Parent Company | Karl Mayer Group |
| Impact | 270 employees affected |