The company behind Nottinghamshire-based bikemaker Raleigh, which was founded 139 years ago, has filed to appoint administrators.
Accell UK and Ireland, part of Netherlands-based Accell Group, filed a notice of intention to appoint administrators as the wider group kickstarted insolvency proceedings.
The boss of Accell said it was a “deeply sad and frustrating situation” and that it had “tirelessly explored” every option for the future of the cycling business.
The company bought Raleigh in 2012 for around $100m, adding to its roster of bike brands throughout Europe including Haibike, Winora and Ghost.
Raleigh was founded in Nottingham in 1887 and was well-known for its Chopper model which featured extended…