Dutch bicycle manufacturer Accell Group was declared bankrupt by an Amsterdam court, according to the bankruptcy trustees. The new court order revokes the previous ‘suspension of payments’ that was granted to the Dutch parts of Accell’s business on August 5.
Court-appointed trustees said the companies could no longer meet their costs, and that the factory in Hungary, where Accell’s production had recently been centralised, has also ceased operations.
According to coverage by the NL Times, trustees state the case is complex because Accell has subsidiaries in several nations, including Raleigh in the United Kingdom and Lapierre in France. The trustees wrote in a…