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Accell launches insolvency proceedings for owner of Raleigh bike brand
Accell bought Raleigh for $100m in 2012, and the company said it could no longer meet its financial obligations after a restructuring effort.
Accell, the Netherlands-based owner of the Raleigh bicycle brand, has started insolvency proceedings, according to BBC Business. The company said it had exhausted available options and was no longer able to meet its financial obligations.
The filing comes after a difficult period for Raleigh, including redundancies in 2024 and losses of £30m in accounts released the following year, BBC Business reported. Accell said it had worked to restructure operations and finances.
Accell chief executive Jonas Nilsson described the situation as deeply sad and frustrating. He said every realistic option for the future had been explored, and none allowed the group to continue in its current form, BBC Business added.