Accell Group, the Dutch proprietor of Raleigh bicycles, has entered court-supervised insolvency proceedings within the Netherlands after takeover talks collapsed, whereas Accell UK and Eire has filed a discover of intention to nominate directors.
The group, whose manufacturers additionally embrace Haibike, Lapierre, Ghost and Babboe, mentioned in a press release that Dutch courts had granted a provisional suspension of funds for its Dutch entities with impact from 5 August, and that court-appointed directors would now work alongside its board.
Jonas Nilsson, Accell’s chief government, mentioned it was a “deeply unhappy and irritating scenario” and that the corporate had “tirelessly explored” each choice for the way forward for the biking enterprise.
A potential takeover by the Singapore-based DuTech Group fell by lately, regardless of the deal having obtained regulatory approvals in Germany, Austria and Poland.
KKR, the US non-public fairness agency, acquired Accell in 2022 for €1.56 billion, utilizing a mixture of fairness and debt. In February, the group accomplished a restructuring that delivered a considerable discount in debt and transferred majority management from KKR to its syndicate of lenders. In January, Accell bought its titanium specialist model Van Nicholas to the Italian producer Velo-ce.
Accell mentioned it had since “explored each potential avenue” for its future, together with discussions with potential patrons, however that it had not been potential to discover a resolution that might enable the group to proceed in its present type.
Raleigh was based in Nottingham in 1887 and grew to develop into the most important bicycle producer on this planet. It created the Chopper, with its prolonged handlebars and backrest seat, within the Nineteen Seventies. Accell purchased the model in 2012 for about $100 million.
The corporate not makes bikes in Nottingham. Its head workplace has moved to Eastwood, Nottinghamshire, and it has shifted to promoting electrical bikes.
Accounts filed at Firms Home in January 2025 present Raleigh made a pre-tax lack of £30.1 million in 2023, towards a £6.8 million loss in 2022, regardless of turnover rising 3.5 per cent to £57.7 million.
A number of European bicycle companies have failed or restructured for the reason that pandemic biking increase ended, as demand weakened and the trade was left with extra inventory. They embrace the Dutch e-bike maker VanMoof, the model group 7Anna, the power-meter maker Levels Biking and the web retailer Wiggle Chain Response Cycles, whose model was purchased out of administration by Frasers Group in 2024.
Molly Monks, an insolvency specialist at Parker Walsh, mentioned the case confirmed {that a} well-known model may nonetheless fail if its money circulation and money owed grew to become unmanageable.
She mentioned: “The Raleigh identify carries monumental affection and recognition, however nostalgia doesn’t pay wages, suppliers or curiosity. An organization may be recognized and liked by hundreds of thousands and nonetheless attain a degree the place it can’t meet its monetary obligations.”
Monks mentioned restructuring may purchase a struggling firm time however couldn’t save a enterprise until its underlying industrial issues have been tackled.
She mentioned: “Lowering debt or securing emergency funding might present respiration house, nevertheless it doesn’t restore demand, clear surplus inventory or instantly make an unprofitable operation sustainable.”
She added that insolvency proceedings didn’t essentially imply Raleigh would disappear, as beneficial manufacturers may very well be bought, restructured or proceed buying and selling beneath new possession.
Nilsson mentioned: “It is a deeply unhappy and irritating scenario given all of the laborious work and every thing we now have achieved, with the assist of shareholders and lenders, to restructure Accell’s operations and funds. It’s an particularly tough second for our workers, collectors, clients, suppliers and companions.”
Amy Ingham
Amy Ingham is a reporter at Enterprise Issues, overlaying UK enterprise information with a give attention to breaking information, enterprise coverage, late funds and insolvency. She joined the journal in 2026 after finishing the NCTJ Diploma in Journalism at Harlow School’s journalism college. Her latest reporting contains British Metal’s nationalisation and its impression on SME suppliers, the decline in late funds by giant corporations, and Insolvency Service director disqualifications. Attain her at aingham@cbmeg.co.uk.
