Accell Group, the Dutch owner of Raleigh bicycles, has entered court-supervised insolvency proceedings in the Netherlands after takeover talks collapsed, while Accell UK and Ireland has filed a notice of intention to appoint administrators.
The group, whose brands also include Haibike, Lapierre, Ghost and Babboe, said in a statement that Dutch courts had granted a provisional suspension of payments for its Dutch entities with effect from 5 August, and that court-appointed administrators would now work alongside its board.
Jonas Nilsson, Accell’s chief executive, said it was a “deeply sad and frustrating situation” and that the company had “tirelessly explored” every option for the future of the cycling business.
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