Bicycle brands Raleigh and Lapierre have initiated legal steps to secure their own futures, following Accell Group’s suspension of payments.
Lapierre has filed for judicial reorganisation with the Dijon Commercial Court, while Raleigh has filed a notice of intention to appoint administrators.
“We will fight to preserve as many jobs as possible”
If the authorities approve Lapierre’s request, which is expected to be examined later this month, it will give the French bicycle company the green light to save itself.
“The observation period will give Cycles Lapierre the necessary time to continue its operations, consolidate its recovery plan, and bring in an investor capable of providing long-term financing for its future,” a…