Haibike, LaPierre parent company begins insolvency proceedings

File photo: Gerow Yesterday, European bike conglomerate Accell Group announced that the company has initiatedlocal insolvency proceedings in the Netherlands. The company, which claims to be “the European market leader in e-bikes and second largest in bicycle parts and accessories,” is “no longer able to meet its financial obligations.” Accell Group operates multiple bike brands…

EXEC: Cycling Giant Accell Group Files for Insolvency

Accell Group has filed for insolvency just months after U.S. private-equity giant Kohlberg Kravis Roberts & Co. (KKR) lost its equity investments following a $1.8 billion pandemic-era purchase of the Dutch company. The owner of bike brands, including Haibike, Winora, Ghost, Batavus, Koga, Lapierre, Raleigh, Sparta, Babboe, and Carqon, said it was no longer able…

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