Accell Group’s Dutch holding company and subsidiaries, owners of a host of bike brands and a relative giant of the sector, were declared bankrupt by the Amsterdam District Court on Tuesday, August 11.
It came a week after insolvency proceedings began following the collapse of a proposed takeover by Tri Star E-Moving, a subsidiary of Singapore-based DuTech.
Court-appointed curators are now examining sales and possible restarts while trying to maintain operations. Dublin-based investment firm Quanta Capital has emerged as the first named potential buyer, saying it is preparing an offer for the entire bicycle group.
Quanta has been public in its interest in the business, with a spokesperson telling The Times, “Quanta will look at it and…