Just a few weeks ago, a rescue appeared to be within reach. Now the situation has taken a dramatic turn: Accell Group – the parent company of Haibike, Ghost, Lapierre, Winora, Raleigh and several other bicycle brands – has initiated insolvency proceedings. We have obtained an internal message from CEO Jonas Nilsson to all employees, in which he states that, after exhausting every available option, there was no alternative left.
The Rescue of Accell Group Already Seemed Secured
As recently as early July, everything pointed towards a successful sale. Singapore-based DuTech Group was set to acquire Accell, and competition authorities in Germany, Austria and Poland had already approved the transaction. All that appeared to be…