Accell UK and Ireland, part of Netherlands-based Accell Group, filed a notice of intention to appoint administrators as the wider group kickstarted insolvency proceedings.
The boss of Accell said it was a “deeply sad and frustrating situation” and that it had “tirelessly explored” every option for the future of the cycling business.
The company bought Raleigh in 2012 for around 100 million US dollars (£74 million), adding to its roster of bike brands throughout Europe including Haibike, Winora and Ghost.
Raleigh was founded in Nottingham in 1887 and was well-known for its Chopper model which…