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 to meet its obligations and its Dutch entities had been granted suspension of payments.
Accell also owns XLC, a manufacturer of bike parts and accessories.
The announcement follows four difficult years for the Amsterdam-based company and its buyout backer KKR since the New York firm led a consortium to take the…