The owners of iconic British bike brand Raleigh and others including Lapierre, the Accell Group, has begun insolvency proceedings, it was announced on Wednesday.
The Dutch company, which bought Raleigh for €100 million in 2012, said that every “realistic option for the future of the business has been tirelessly explored”. It entered a suspension of payments, a form of insolvency, in the Netherlands.
Insolvency means a company is unable to meet its debt obligations. The company can restructure or seek a buyer before entering administration.
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The news follows a series of difficult years for the Accell Group, which included job cuts in 2024, and losses for Raleigh reported last year. Accell also owns…